Salpa Bikas Bank is set to issue an IPO for Nepali citizens working abroad, offering 17,23,880 shares with a special quota for foreign workers.
Salpa Bikas Bank Limited has received approval to issue an IPO targeting Nepali citizens working abroad. The bank plans to issue 33% of its total paid-up capital of NPR 52.23 crore, which amounts to 17,23,880 shares. Out of these, 10% (1,72,388 shares) are specifically reserved for Nepali workers abroad who hold valid labor permits. Each share is offered at a face value of NPR 100.
The IPO will open on Mangsir 25, 2082 B.S. and the initial application deadline is Mangsir 29, 2082 B.S.. If sufficient applications are not received during this period, the closing date will be extended to Poush 10, 2082 B.S. Nepali workers abroad can apply for a minimum of 10 shares and a maximum of 25,000 shares.
Infometrics Credit Rating Nepal has assigned the bank an IRN Single B rating, signaling a high risk in meeting financial obligations.
The IPO is being managed by Muktinath Capital Limited. Applicants can submit their applications through banks and financial institutions offering ASBA services or online via the ‘Mero Share’ platform using C-ASBA.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
