As per NIBL Ace Capital, issue manager of the company, the applicants have applied for 99,406,740 units of shares. Based on the data, the issue is already oversubscribed by 1.31 times. Given that there is still two days remaining time, the issue may be oversubscribed by a huge number of applications.
Nepal Infrastructure Bank is issuing the biggest IPO of the country from January 15. The bank is issuing 80 million units of primary shares worth Rs 8 billion to the general public.
Out of the offered shares, the company has allocated 0.20 percent i.e. 160,000 units to employees, 5 percent i.e. 4 million units to mutual funds. The general public can apply for the remaining 75,840,000 units of shares.
The issue will close early on January 19 and lately on January 29. The interested investors can apply for a minimum of 10 units and a maximum of 20 million units of shares. They can apply from all C-ASBA approved BFIs and meroshare software.
The bank has authorized capital of Rs 40 billion, issued capital of Rs 20 billion and paid-up capital of Rs 12 billion. After the IPO, the paid-up capital of the company will reach Rs 20 billion.
ICRA Nepal has assigned ‘ICRANP IR BBB’ rating to the issue indicating a moderate degree of risk.
The company has appointed Citizen Investment Trust as its underwriter and NIBL Ace Capital as its issue manager.
