NMB FPO collects Rs 1.88 arba from over 54k applicants till the fifth day; Institutional investors do not show much interest in the FPO issue

The FPO issue of NMB has collected Rs 1.88 arba till today evening from over 54,000 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 50.5%.

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 56.45 lakh units until the evening of the fifth 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.

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.