The allotment of Himalayan Bank Limited’s Further Public Offering (FPO) will now take place next week. According to the issue manager, Citizens Capital, the allotment process has been delayed because some ASBA member banks have not yet confirmed the applications submitted by investors. Once the confirmation process is completed, the pre-allotment process will begin. As per regulatory requirements, there must be a minimum two-day gap after pre-allotment before the final allotment can proceed. These procedural delays have pushed the FPO allotment to next week. Citizens Capital has stated that they are preparing to proceed with the allotment at the beginning of the upcoming week.
The FPO had received overwhelming demand, with more than 17 lakh investors applying—over four times the number of available shares. However, only 9,25,046 applicants will receive shares through a lottery process. Out of them, 9 applicants will receive 11 units each, while the remaining 9,25,037 applicants will be allotted 10 units each.
Himalayan Bank had issued a total of 92,50,469 units of FPO shares starting from Ashar 32, raising Rs. 1 arba 45 crore 23 lakh 23 thousand 633 in total. The shares were offered at a price of Rs. 157 per unit, which includes a par value of Rs. 100 and a premium of Rs. 57. Initially, the bank had proposed to issue the FPO at Rs. 169 per unit (Rs. 100 par + Rs. 69 premium), but the Securities Board of Nepal (SEBON) approved the issuance at the revised rate of Rs. 157 on Ashar 22.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
