NIBL FPO collection reaches whopping Rs 48 arba through 2.3 lakh applicants;Highest collection till date

Nepal Investment Bank Limited (NIB) had issued 90,69, 388 units shares as a part of Further Public Offering (FPO) from Falgun 11 to Falgun 14 2072. The FPO was issued at Rs 601/unit. Securities Board of Nepal (SEBON) had barred the promoter Shareholders of NIBL(NIBPO), BoD members and their immediate families from applying to this FPO.

Interested investors applied minimum of 10 to maximum of 2 lakhs units.

An official from NIB told ShareSansar, " As of today FPO has collected approximately Rs 48 arba through 2.30 lakh applicants. The final collection amount may vary as data compilation has not finished. Maximum applicants have applied for 80 units/application form. "

This is the highest collection reported in an public issue in the history of Nepal till date. As the number of application has crossed 2 lakh, now the allotment will happen within 60 days.

On the first day FPO had collected Rs 3 arba while the collection had crossed Rs 7 arba & Rs 12 arba on the second and third day respectively.

Citizen Investment Trust (CIT) is the issue manager for the FPO of Nepal Investment Bank.

The bank is issuing FPO as per directive issued by the central bank to maintain at least 30% stake of public shareholders. At present Promoter and ordinary shareholders’ share structure of the commercial bank stands at 80:20.

At present the bank has a paid up capital of Rs 6.34 arba. After the issuance of the FPO its paid up Capital will reach to Rs 7.25 arba. The reserve will be increased by Rs 4.54 arba to Rs 9.11 arba. After the FPO, this paid up capital will be the highest among all the commercial banks other than state owned commercial banks.

NIBL has earned net profit  of Rs 1.09 arba in second quarter of the current  fiscal year 2072/73.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 3+”, indicating average fundamentals of the proposed FPO amounting to NPR 5,341.42million of Nepal Investment Bank Limited .

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