Rapti Bheri starts distributing IPO refund to non-allottees

ShareSansar, March 24:

Rapti Bheri Bikas Bank has started refunding excess money collected from investors from today. The refund money will be directly credited to the accounts of non-allottees who have an account with NMB Bank, while others will be provided with cheques.

NMB capital, the issue manager, has urged non-allottee investors to contact their respective collection centers from where they had applied for the IPO to collect their cheques.

The IPO of Rapti Bheri Bikas Bank was oversubscribed by 51 times.

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

The company EPS stands at Rs 10.64 and has Rs 1.78 crore in reserve fund as per the last fiscal year 2070/71 financial statement.