SEBON Adds IPO Proposal of Salapa Bikas Bank Limited To Its Pipeline

The IPO proposal of Salapa Bikas Bank Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,723,880 shares. This will raise Rs. 17.23 crores for the company. The application was submitted on Baisakh 23, 2082.

Muktinath Capital Limited has been appointed the issue manager for the public offering.

Infomerics Credit Rating Nepal Limited has assigned a rating of IRN B (Is) [Single B (Issuer)], indicating a high risk of default in the timely servicing of financial obligations.

Salapa Bikas Bank Limited (SBBL) is a regional development bank based in Khotang with 6 branches and a head office, operating as of October 15, 2024. Licensed as a “B” Class Development Bank by Nepal Rastra Bank, it began operations in 2012. Fully owned by individual promoters, its major shareholders are Mr. Dhan Prasad Rai (0.61%) and Mr. Manindra Rai (0.50%). As of mid-October 2024, SBBL has a paid-up capital of NPR 350 million.