Standard Chartered FPO collects Rs 92.96 crore from 9,101 applicants on first day

Standard Chartered Bank Nepal Limited (SCB) has been floating  25,58,140  units shares worth Rs 3.30 arba as part of its Further Public Offering (FPO) from yesterday. Today is the second day of the FPO. The FPO has collected Rs 92.96 crore on the first day. As per an official of NMB Capital Limited, “The total collection of the FPO is approximately Rs 92 crore 96 lakh till yesterday. Around 9,101 application forms were received.” “The FPO has collected Rs 68.37 crore from regular applications and Rs 24.59 crore from ASBA collections. 1,030 applicants submitted the application via ASBA forms and 8,071 applicants submitted via regular application forms”, added the official. The FPO applications will close on Chaitra 4, 2073. The maximum closing date for the offer is Chaitra 15, 2073. Interested people must apply for a minimum of 10 units of shares and they can apply for up to 25,580 units shares. NMB Capital Limited is the issue manager for the FPO. Interested applicants can collect application forms from NMB Capital, Nagpokhari, branches of NMB Bank, Standard Chartered Bank, Goodwill Finance, Central Finance and other designated collection centers. Interested applicants can also apply from 1,971 branches of ASBA-approved banks around Nepal. ICRA Nepal has assigned IPO Grade 2+ to this FPO indicating above-average fundamentals. After the FPO, its paid up capital will reach around Rs 4 arba and its promoter – public shareholding structure will be maintained at 70.21% and 29.79%. Its reserve will grow by Rs 3.04 arba. As per the bank, it will issue 100% bonus shares to its shareholders from the premium earned from the FPO and profit in the FY 2073/74, thereby meeting NRB’s requirement of increasing its paid up capital to Rs 8 arba. Standard Chartered Bank Nepal Limited has earned Rs 74 crore in the second quarter of the FY 2073/74. Its last traded price (LTP) stands at Rs 1,950 as of yesterday (March 1, 2017).