NMB FPO collects over Rs 2.53 arba till 1 PM of 21st day; Issue still remains short by around 33%

The FPO issue of NMB Bank Limited (NMB) has collected over Rs 2.53 arba till 1 PM today from over 63,630 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 33%.

The FPO issue had started from Jestha 30, 2075. The bank is issuing 1,14,15,163 unit shares as further public offering to the general public at a price of Rs 333 per share. Applications have been received for around 76.01 lakh units until 1 PM of the 21st day (i.e. today).

The issue date has been extended till Ashadh 28, 2075. Institutional investors can apply for the FPO issue as the FPO is not fully subscribed by the general public. However, the general public can also apply along with the institutional investors.

Recently the provision for the maximum limit to be applied for the IPO with premium issue and FPO issue has been changed by the Securities Board of Nepal (SEBON). Since the provision has already been implemented from Ashadh 4, 2075, the amendment in the provision is also applicable for the ongoing FPO issue of NMB. Hence, the maximum units to be applied for the issue is decided to be 50 lakh units amounting Rs 1.665 arba.

ICRA Nepal has assigned Grade 3 rating to the issue indicating average fundamentals.

Citizen Investment Trust has been appointed as the issue manager for the FPO issuance.

After the capitalization of the FPO, paid-up capital will reach Rs 7.60 arba with 51 and 49 percentage shareholding of promoters and general public respectively. The bank will be short by Rs 40 crore to meet the capital requirement of Rs 8 arba.