NMB Bank FPO subscribed by 5% on the first very day ; majority applies for minimum of 10 units

The gigantic FPO of NMB Bank has received an application for Rs 20 crores on the very first day. Application for above 6 lakh units has been received from nearly 7,400 applicants where majority of the applicants have applied for 10 units by the time data was received. The above data are in the round figure.

NMB Bank is floating 1,14,15,163 unit shares at Rs 333. The issue is scheduled to close on 3rd Ashad (if early). The issue can however, extend till 28th Ashad, 2075 in case of undersubscription. One can apply for minimum of 10 units and maxmimum of 57,070 units.   

Citizen Investment Trust is 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.