Gigantic FPO of NMB Bank commencing from today ; issue price Rs 333

The gigantic FPO of NMB Bank is commencing from today. The issue is scheduled to close on 3rd Ashad (if early). The issue can however, extend till 28th Ashad, 2075 in case of undersubscription. 

As per the offer letter, the company is issuing 1,14,15,163 units shares at a price Rs 333. One can apply for a minimum of 10 units and a maximum of 57,070 units in the issue. Application can either be given online using "meroshare" or by filling C-asba form in any of the asba member bank. 

Citizen Investment Trust will be the issue manager for the public issue. ICRA  Nepal has assigned Grade 3 rating for the issue. 

The bank will collect a premium of 2.65 arba from this FPO hiking its reserve to 8.29 arba. The paid-up capital will reach to 7.60 arba  after this issue. 

NMB Bank was last traded for Rs 367 in the stock exchange. 

Also read : Is it worth applying for NMB Bank FPO ?