NMB FPO successfully oversubscribed on the last day; Collects Rs 3.88 arba from 70,650 applicants in total

The FPO issue of NMB Bank Limited (NMB) has collected Rs 3.88 arba until the last day of the issue from over 70,650 applicants. The total issue is worth Rs 3.80 arba. The issue is has been oversubscribed by around 2.10%.

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 1.16 crore units until the last day (i.e. today).

The FPO issue for the general public as well as the institutional investors have concluded today. As per an official of the issue manager, since the issue has been oversubscribed, the discussion is going on whether the issue will be open for the promoters, directors and their family members which was supposed to be open from Ashadh 29 till Ashadh 32, 2075 if the issue failed to be fully subscribed by today.

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

Citizen Investment Trust had 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 has proposed 15% bonus to its shareholders worth Rs 1.14 arba after which the paid up capital of the bank will reach Rs 8.74 arba hence, meeting the minimum capital requirement.