Rapti Bheri share allotment by Chaitra 6; refund by second week

ShareSansar, March 10:

Rapti Bheri Bikas Bank is likely to allot shares to those who had applied for its Initial Public Offering by Chaitra 6.

According to an official with the NMB Capital, the issue manager for the IPO, the bank has yet to decide on the share allotment module. The official said the allotment module will be prepared within the first week of Chaitra after the company gets a green signal from SEBON.

The official said that the refund and excess amount would be returned to the applicants by the second week of Chaitra.

Raptibheri’s IPO garnered Rs 2 arba 37 crore and 23 lakh, which was over 51 times the money the bank was aiming to collect through the IPO. Of the total 500,054 units of the shares issued, 25,003 units had been earmarked for the mutual funds and another 10,001 for the bank staffers.

Raptibheri’s paid-up capital will rise to Rs 12.50 crore from the existing Rs 7.50 crore following the IPO. The development bank has head office in Nepalgunj (Banke district) and branches in Bardiya and Dang district.