Nepal Infrastructure Bank Allots IPO, 492,072 Applicants Received 60 Units

Jan 29, 2021 11:16 AM Merolagani

 Nepal Infrastructure Bank has allotted IPO on January 29. As per NIBL Ace Capital, issue manager of the bank, the IPO was allotted in its premises at 10:00 AM.

According to the issue manager, all applicants who sought up to 50 units of shares are provided the desired number of shares. The remaining 4,920,720 units were distributed among those applicants who sought above 50 units of shares through lottery.

Doing so, 492,072 applicants received additional 10 units of shares making the total units received 60.

The IPO received a total of 1,475,080 valid applications while 6,276 applications were flawed, thus, got cancelled.

Nepal Infrastructure Bank issued IPO from January 15-19. 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 allocated 0.20 percent i.e. 160,000 units to employees, 5 percent i.e. 4 million units to mutual funds. The general public could apply for the remaining 75,840,000 units of shares.

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.

 

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