The IPO allotment date of NIFRA is fixed. Nepal Infrastructure Bank limited (Nifra) is going to publish the result of IPO allotment within Friday. According to the NIBL ACE Capital, the share issue manager there is the probability of getting maximum 50 units shares to each applicants. nifra ipo allotment news, nifra ipo result
NIBL Ace Capital has said that they will do allotment of IPO by Friday after completing the application verification work by Wednesday. As the application verification work is still pending, the distribution date will be fixed only tomorrow, said Capital.
The bank had issued 80 million ordinary shares equal to Rs 8 billion, which is 40 percent of the issued capital of Rs 20 billion. The company has allocated 0.20 percent or 160,000 to the employees and 5 percent shares to collective investment fund. There is over 15 lakh application for the remaining shares.
This is 2.39 times more than the 75.84 million lots issued by the general public. As the bank has issued a large number of shares, it is certain that everyone who applies for an IPO will get about 50 shares.
At present, the paid up capital of the bank is Rs. 12 billion. After the IPO distribution of Rs. 8 billion, the paid up capital of the bank will reach Rs. 20 billion.
NIFRA is the first infrastructure bank of Nepal whose main aim is to invest in the infrastructure sector of Nepal. The corporate office of NIFRA located at Krishna Tower, Naya Baneshwor Kathmandu Nepal. This company has issued 40% of the Issued Capital (20 Arba). This company has also allocated 1 lakh 60 thousand shares to the employees of the company and 40 lakh unit shares to mutual fund. General Public will apply for 7 crore 58 lakh and 40 thousand shares units.
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