Last Day to Apply for Salpa Development Bank IPO
Applications for Salpa Development Bank’s IPO close today, with the public offering entering its final subscription day.
Salpa Development Bank Limited will close applications for its initial public offering (IPO) to general investors on Sunday, marking the final day of subscription.
The IPO, which opened on Poush 16, is being issued in the second phase after the completion of allotments to Nepalis employed abroad and institutional investors. The bank had received approval to issue 1.723 million ordinary shares, representing 33% of its issued capital of Rs 522.39 million, at a par value of Rs 100 per share.
In the first phase, 172,388 shares were allotted to foreign-employed Nepalis with valid labor approval, while 86,194 shares were allocated to mutual funds. In the ongoing phase, the bank has reserved 26,119 shares for employees and offered the remaining 1,439,179 shares worth Rs 143.92 million to the general public.
Retail investors can apply for a minimum of 10 shares and a maximum of 25,000 shares.
For the IPO, Infomerics Credit Rating Nepal has assigned the bank an IRN Single B issuer rating, indicating a high level of risk in meeting financial obligations on time.
The issue is being managed by Muktinath Capital Limited. Applications can be submitted through the C-ASBA system via SEBON-approved banks and financial institutions, as well as through the Mero Share online platform operated by CDS and Clearing Limited.