Share allotment of Rapti Bheri IPO to take place on Chaitra 5

ShareSansar, March 18:

The announcement regarding the allocation of shares in the Initial Public Offering of Rapti Bheri Bikas Bank Limited will be made on Chaitra 5 (tomorrow).  

An official with the NMB Capital, the issue manager for the IPO, said that all the details regarding the IPO will be made public at 9:30 am tomorrow at the premises of NMB Capital in Babar Mahal.

The official said that share allotment module for investors--big, small and those who will fall under lottery system—will also be revealed on Thursday.     

The IPO of Rapti BheriBikas Bank was oversubscribed by 51 times.

Of the total 500,054 units of the shares being 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.

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.