Standard Chartered FPO Update; collects Rs 13.3 arba (oversubscribed by more than 4 times) from  86,700 applicants till third 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 Chaitra 1, 2073. Today is the last day of the FPO. The FPO has collected Rs 13.3 arba till third day from 86,700 applicants. The FPO has been oversubscribed by more than 4 times till third day. As per an official of NMB Capital Limited, “The total collection of the FPO is approximately Rs 9 arba 49 crore on third day. Around 56,400 application forms were received.” “On the third day, the FPO has collected Rs 5.39 arba from regular applications and Rs 7.91 arba from ASBA collections. 31,660 applicants submitted the application via ASBA forms and 24,800 applicants submitted via regular application forms”, added the official. Interested people were require to apply for a minimum of 10 units of shares and they can apply for up to 25,580 units shares. The number of applied units must be a multiple of 10. NMB Capital Limited is the issue manager for the FPO. 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.