KATHMANDU: Nepal Infrastructure Bank (NIFRA) Ltd is closing initial public offerings (IPO) issued for people in general from today (Tuesday).

The NIFRA had issued 80 million units of shares worth Rs 8 billion on last Friday. This is the biggest IPO ever issued in the Nepali Securities market.

Of the total IPO, 0.20 percent or 160,000 units of share have been allocated for company staffers, 5 percent or 4 million units of shares for collective mutual fund while 75.840 million units of shares have been allotted for general public.

Willing applicants can apply for the IPO by today (January 19).  The deadline for the application will be extended until January 29 if the company does not receive the required number of applications.

The bank, currently, has 12 billion in paid-up capital. With the issuance of IPO worth Rs 8 billion, its paid-up capital will reach 20 billion.