Record high applications for IPO of Nepal Infrastructure Bank

KATHMANDU: The Nepal Infrastructure Bank (NIFRA) has received the highest number of applications so far Initial Public Offerings (IPO).

A total of 181,286,720 units shared have been applied by 1,529,660 applicants by 6 pm on Tuesday, the closing day for the IPO.

This is the first time that more than 1.5 million investors have applied for any IPO. Earlier, 1.2 million people had applied for the IPO of Chandragiri Hills.

The bank had issued 80 million units of shares worth Rs 8 billion from Friday.

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

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