NMB Bank FPO subscribed by nearly 12% till second day ; nearly 18000 applications received

NMB Bank has received an application for nearly Rs 46.68 crores by the second day. This is nearly 12% of the total issue amount. As per the official of Citizen Investment Trust, more than 18000 applicants have applied for the FPO by 5pm today. 

The FPO has received comparitively less amount of application when compared to the other public issues. The issue price of the FPO being quite near to the market price is believed to be the main reason  behind this. The issue can however, extend till 28th Ashad, 2075 in case of undersubscription.

NMB Bank is floating 1,14,15,163 unit shares at Rs 333. The issue is scheduled to close on 3rd Ashad (if early). 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.