The IPO allotment of NIFRA will conclude this Friday, starting at 10 am. The allotment will be streamed live from the issue manager NIBL Ace Capital’s Facebook page.
Nepal Infrastructure Bank Limited (NIFRA) has just recently closed its IPO issue. The biggest IPO ever in the history of NEPSE was opened from Magh 2.
Out of the offered 8,00,00,000 units; 0.20% of the total offered shares were set aside for the employees of the company and 5% for mutual funds. The remaining 7,58,40,000 units were for the general public. NIBL Ace Capital Limited is the issue manager for the IPO issuance and CIT is the underwriter.
According to the issue manager, there are 14,75,008 valid applicants for this public issue. Thus, the issue manager stated that all the applicants will get a minimum of 50 units. Furthermore, 4,92,072 lucky applicants will get the extra 10 units, and hence, will be awarded a total of 60 units each.
After the IPO issuance, the company’s paid-up capital will reach Rs. 20 Arba from the existing Rs. 12 Arba. The company was established to serve and benefit from investment in significant infrastructure projects like Hydropower projects, road infrastructures, etc.