Kathmandu, December 2 — Salpa Bikas Bank Limited will issue its first IPO in the primary phase from 25 Mangsir 2082 B.S. The bank is offering 10% of its public IPO shares to Nepalese citizens working in foreign employment.
The bank received approval from Nepal Securities Board to issue 17,23,880 units worth Rs. 17,23,88,000, which is 33% of its issued capital of Rs. 52 crore 23 lakh 88 thousand.
For foreign job holders, 1,72,388 units (10% of total IPO shares) will open for application first. After this allotment, the bank will issue more shares to the general public in Nepal.
IPO Share Breakdown
14,39,179 units for the general public (in the next phase)
86,194 units for mutual funds
26,119 units reserved for employees
The first application window will close on 29 Mangsir 2082 B.S. If the demand is low, the date will move up to 10 Poush 2082 B.S.
Nepalese workers abroad can apply for:
Minimum: 10 units
Maximum: 25,000 units
The IPO manager-rated agency, Infomerics Credit Rating Nepal, has given the bank an IRN Single B Issuer Rating. This shows the bank has high risk in meeting its financial duties on time.
The bank has named Muktinath Capital Limited as the IPO issue and sales manager. Applicants can submit their requests through all ASBA-approved banks, financial institutions, and online via Mero Share.
The bank has:
Authorized capital of Rs. 80 crore
Issued capital of Rs. 52 crore 23 lakh 88 thousand
Paid-up capital of Rs. 35 crore (now)
After the IPO allotment, paid-up capital will match the issued capital.
Until 2081 B.S., founder shares owned 67%, and public shares owned 33%. The latest financial report of 2080/81 shows:
Reserve fund: Over Rs. 2 crore 4 lakh
Net worth per share: Rs. 101.20
Earnings per share: Rs. 0.09
Salpa Bikas Bank IPO Key Facts
Salpa Bikas Bank IPO & Financial Summary
| Topic | Details |
|---|---|
| IPO Start Date (Foreign Workers) | 25 Mangsir 2082 B.S. |
| Units for Foreign Workers | 1,72,388 |
| Total IPO Approved Units | 17,23,880 |
| IPO Manager | Muktinath Capital Limited |
| Application Platform | ASBA banks, Mero Share |
| Apply Range | 10 – 25,000 units |
| Rating | IRN Single B (High Risk) |
| Paid-up Capital (Before) | Rs. 35 crore |
| Paid-up Capital (After IPO) | Rs. 52 crore 23 lakh 88 thousand |
| Reserve Fund | Over Rs. 2 crore 4 lakh |
| Net Worth Per Share | Rs. 101.20 |
| EPS | Rs. 0.09 |