Salapa Bikas Bank Limited Closing IPO to General Public from Today
January 4, 2025 | Investopaper
After the first phase, Salapa Bikas Bank Limited is currently issuing the shares to the general public in the second phase of an initial public offering (IPO). The IPO to general public is open from Poush 16, 2082 BS.
The company is selling 14,39,179 shares at Rs. 100 per share to the general public.
Interested investors can apply for a minimum of 10 shares and a maximum of 5,000 shares.
The public offering will close on Poush 20, 2082 BS.
The company has alloted 86,194 shares to the mutual fund schemes and has reserved 26,119 shares to the employees of the company.
In total (including the first and second phase), the bank plans to sell 17,23,880 unit shares at the par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 17.23 crores.
First Phase: IPO To Foreign Employed Nepalis
In the first phase of the IPO, the bank had sold 1,72,388 shares (10 percent of the general public quota) to the foreign employed Nepalis from Mangsir 25, 2082 BS. Due to over-subscription, the first phase of the IPO was closed on Mangsir 29, 2082 BS.
One could apply for a minimum of 10 units and a maximum of 25,000 units.
For this purpose, Securities Board Of Nepal (SEBON) has given the approval to the company on Mangsir 8, 2082 BS. The bank had submitted the application to the board on Ashad 31, 2082 BS. Only after the regulatory body SEBON’s permission, the company can sell the shares to the public.
The company has appointed Muktinath Capital Limited as the issue and sales manager. The agreement for public offering has already been signed between the company and Muktinath Capital Limited on this regard.
About Salapa Bikas Bank Limited
Salapa Bikas Bank Limited is a ‘B’ class financial institution licensed by Nepal Rastra Bank. It is a one-district regional development bank based in Khotang.
Recommended:
