Pokhara Finance FPO collects Rs 8.65 crore from around 4,300 applicants on first day

Pokhara Finance Limited (PFL) has been issuing its Further Public Offering (FPO) of 9,83,682 units shares worth Rs  21.64 crore at Rs 220 per unit from Shrawan 29, 2074. Today is the second day of the IPO. Badri Pyakhurel, Merchant Banking Head of NIBL Capital Market Limited said, “The issue has collected Rs. 8 crore 65 lakh on the first day. Tentatively around 4300 application forms were received.” The FPO applications will close on Bhadra 1, 2074. The maximum closing date for the offer is Bhadra 7, 2074. Interested people must apply for a minimum of 10 units of shares and they can apply for up to 4,900 units shares. NIBL Capital Markets Limited is the issue manager for the FPO. Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074. ICRA Nepal has assigned IPO Grade 4 to this FPO indicating below-average fundamentals. After the FPO, its paid up capital will reach around Rs 65.57 crore and its promoter – public shareholding structure will be maintained at 51% and 49%. Its reserve will grow by Rs 11.80 crore. Finally, after proposed 15% right share issuance, its paid up capital will reach Rs 75.40 crore. As a national level finance company, it should hike its paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74.