NMB FPO collects Rs 52.32 crore as of second day; Issue still short by 86% as applications received for 15.71 lakh units

The FPO issue of NMB has collected Rs 52.32 crore till its second day from 22,727 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 86%.

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 15,71,350 units as of the second day.

The issue will close on Ashadh 3, 2075. Only general public can apply for this FPO. Institutional investors can apply only if the issue does not get subscribed within stipulated time period.

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.