Salapa Bikas Bank Opens IPO for Nepali Workers Abroad from Today
Salapa Bikas Bank has opened its IPO for Nepali migrant workers starting today, Mangsir 25, offering 172,388 units at Rs. 100 par value.
Salapa Bikas Bank Limited has opened its Initial Public Offering (IPO) for Nepali citizens employed abroad starting today, Mangsir 25.
The bank had received approval to issue 17,23,880 units of shares—worth Rs. 17.23 crore—representing 33% of its paid-up capital of Rs. 52.23 crore.
Out of the total issue, 10% (172,388 units) at a par value of Rs. 100 per share has been reserved exclusively for Nepali migrant workers.
Applicants can apply for a minimum of 10 units and a maximum of 25,000 units.
The deadline for application is Mangsir 29, with an extension to Poush 10 if undersubscribed.
Infomerics Credit Rating Nepal has assigned the bank an IRN Single B Issuer Rating, indicating a high-risk capacity regarding timely debt servicing.
Muktinath Capital Limited is the issue manager. Eligible migrant workers can apply through ASBA member banks, financial institutions, or the MeroShare online system.