Nepal SBI Merchant Banking Ltd.

Nepal SBI Bank FPO concludes; all alottees allotted 10 kitta through lottery

Nepal SBI Bank Limited has allotted its 67,767.87 units FPO shares today at Nepal SBI Merchant Banking Limited, Hattisar on 3:30 PM. All allottees have been allotted exactly 10 kitta FPO shares.

27,107 shares were set aside for retail investors (who applied less than 50 kitta), and 40,660 shares were set aside for other investors (from 60 to 670 kitta). The shares set aside for retail investors was oversubscribed by 55 times and those set aside under other category were oversubscribed by 82 times.
 

7 applicants allotted 11 units, one allotted 10.87 units

Of the total 57,126 applicants, only 6,776 investors got the shares. Distributing 10 kittas each to 6,776 allottees amounts to only 67,760 out of the 67,767.87 issued shares. So, out of these 6,776 allottees, 7 applicants were allotted 11 units, 1 was allotted 10.87 units, and the rest were allotted 10 units each through lottery. All 67,767.87 shares have been allotted.

Of the 44,087 retail investors who had applied from 10 to 50 kitta shares, 2711 applicants were allotted 10 units each. Similarly, out of 13,039 investors in the “Other” category, 4065 applicants were allotted 10 units.

Individual results can be checked in ShareSansar’s IPO Result section later today.

Nepal SBI Bank Limited (SBI) had issued 67,767.87 units shares worth Rs 6.58 crore as a part of Further Public Offering (FPO) from Poush 11, 2073 till Poush 14, 2073. The FPO was issued at Rs 971/unit and had been oversubscribed by over 73 times. NMB Capital is the issue manager for the FPO.

Nepal SBI Bank had issued the FPO as per a directive issued by the central bank to maintain at least 30% stake of public shareholders in its share structure. Its promoter shareholder: public shareholder structure before the FPO stood at 70.12:29.88. Two institutional promoters hold 70.12% of total shares in the Bank. State Bank of India holds 55.09% of the total ownership whereas Employee Provident Fund holds 15.03% shares.

After the FPO, the promoter and public shareholding structure is at 70% and 30%.