NMB FPO collects Rs 97 crore from 35k applicants till this morning; FPO issue still open for the general public

The FPO issue of NMB has collected over Rs 97 crore till 10:30 am today from over 35,000 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 74%.

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 29 lakh units till 10:30 am of the fourth day (i.e. today).

The issue date will be extended till Ashadh 28, 2075. Only general public can apply for this FPO till today. Institutional investors can apply from tomorrow as the FPO does not seem to be 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.