Salpa Bikas Bank to Open IPO for Migrant Nepali Workers from December 10

Salpa Bikas Bank Ltd. is set to launch its initial public offering for Nepali citizens working abroad, beginning December 10 (Mangsir 25). The bank will issue a portion of its previously approved IPO allocation specifically for migrant workers holding government-verified labor permits.

The bank has authorization to issue 1,723,880 shares—equivalent to 33% of its paid-up capital of NPR 522.38 million. Of this total, 10% (172,388 shares) has been earmarked exclusively for Nepali migrant workers, offered at a face value of NPR 100 per share. The dedicated tranche amounts to NPR 17.23 million.

Applications for the migrant-worker IPO will remain open until December 13 (Mangsir 29). If the issue remains undersubscribed, the deadline will be extended until December 25 (Poush 10). Eligible applicants can apply for a minimum of 10 shares and a maximum of 25,000 shares.

Infomerics Credit Rating Nepal has assigned the bank an issuer rating of IRN Single B, indicating a high risk of default regarding timely fulfillment of financial obligations. Analysts note that while the rating signals elevated risk, it is not uncommon for smaller regional development banks.

Muktinath Capital Ltd. has been appointed as the issue manager for the IPO. Migrant workers can submit applications through the C-ASBA system at licensed BFIs, as well as via the “Mero Share” online portal operated by CDS & Clearing Ltd.

The IPO is part of an ongoing policy push to expand financial access for migrant workers, offering them avenues to invest in domestic financial institutions even while working abroad.