Jan Tue 2021 10:19:52
Kathmandu. Nepal Infrastructure Bank Limited has projected to increase its capital by 8 percent within the next fiscal year. The company, which is preparing to sell 80 million IPOs in the primary market so far, has raised its paid-up capital to Rs. It is projected to reach Rs. 21.60 billion.
Maximum capital Rs. 40 billion and issued capital of Rs. 20 billion, the bank currently has Rs. 12 billion in working capital. In general, Rs. 8 billion after the sale of IPO. 20 billion working capital will be maintained. The IPO will be open for sale on January 20 at the earliest and on January 16 at the latest. The company has informed that the sale will be stopped soon if the application is received as per the demand.
Out of the total 80 million shares, the company has allotted 4 million shares at the rate of 5 percent for collective investment funds and 160,000 shares at the rate of 0.2 percent for the employees of the company. The remaining 75.84 million lots are about to be released to the public. The IPO sales manager of the company is NIBL S Capital Limited and the guarantor is Citizen Investment Fund.
Buyers can apply from all the banks and financial institutions participating in ASBA service along with the sales arrangement and also from my share app along with my share software. The company's IPO has been given a "ICRP IR Triple B" rating by ICRA Nepal indicating that the financial condition of the bank is moderate.
The company has received permission from the Nepal Securities Board to sell the IPO on January 25. The bank had applied to the board on November 25 seeking permission to sell the IPO. In the last Fiscal Year 2013/14, the company earned Rs. It has made a net profit of Rs 1.23 billion. During this period, the company's net worth per share was Rs. 113.62 and earnings per share of Rs. 7 point zero 6.