SEBON Just Approved the Biggest IPO Issue Ever; 8 Crore Unit Shares to be Issued

SEBON has approved the IPO issue proposal of Nepal Infrastructure Bank Limited.

Nepal Infrastructure Bank Limited had submitted an application in SEBON to issue IPO for 40% of its issued capital. This amounts to 8 crore shares in the IPO worth 8 Arba. The bank has already appointed CIT as the underwriter and NIBL Ace Capital as the issue manager.

Now that the issue is approved, this will be the biggest IPO in the history of Nepal's capital market. The second AGM of the company had endorsed/approved the issuance of IPO. After the IPO issuance, the company's paid-up capital will reach Rs. 20 Arba from the existing Rs. 12 Arba.

The company was established to serve and benefit from investment in significant infrastructure projects like Hydropower projects, road infrastructures, etc. However, Nepal Infrastructure Bank's profit declined by 12.43% to Rs 18.01 crore in the first quarter of the fiscal year 2077/78. Its annualized earning per share stands at Rs 6, and net worth per share stands at Rs 115.