Sana Kisan and Hamro Bikas Bank IPO gets nod from SEBON

ShareSansar, June 23

The Securities Board of Nepal (SEBON) has given Sana Kisan Bikas Bank and Hamro Bikas Bank Limited a green signal to issue share to the general public.

Sana Kisan Bikas Bank is issuing 6,00,000 units  ordinary share at the par value of Rs 100 to general public. Banks has appointed Elite Capital as issue manager for its upcoming issues.

After the public issue, banks capital will increase to Rs 200 million from the current Rs 140 million. As per the latest capital structure, 31.5 percent of Sana Kisan is held by Agricultural Development Bank, 8.7 by Nepal Bank Limited, 4.3 percent by Nabil Bank Limited and remaining 55.5 percent is held by 231 small farm cooperatives.

As per the guidelines of SEBON, the company’s IPO has been rated by ICRA Nepal which has assigned it Grade 3.

Up to the end of third quarter of this fiscal year 2069/70, the bank’s profit before tax stands at Rs.92.6 million.

Similarly, Hamro Bikas Bank Limited is issuing 1,80,000 units ordinary shares at the par value of Rs 100. Banks current paid up capital is Rs 42.07 million and after the issue the bank’s capital will increase to Rs. 61 million. Banks profit till the end of the third quarter of this fiscal year is Rs. 5.06 million.

Hamro Bikas Bank Limited has appointed Growmore Merchant Bankers Limited as its issue manager.