Salpa Bikash Bank Set to Issue IPO for Nepalis Working Abroad

Salpa Bikash Bank is issuing its IPO (Initial Public Offering) specifically for Nepali citizens working abroad under the first phase of its public offering. The bank had earlier received approval to issue 17,23,880 units of ordinary shares, equivalent to 33% of its paid-up capital, amounting to Rs. 17 crore 23 lakh 88 thousand out of its total paid-up capital of Rs. 52 crore 23 lakh 88 thousand.

Accordingly, the bank is offering 10% of the total IPO shares to Nepalis currently working in foreign employment starting from Mangsir 25.

Share Details

For Nepalis working abroad:
🔹 1,72,388 units of ordinary shares
🔹 Par value: Rs. 100 per share
🔹 Total amount: Rs. 1 crore 72 lakh 38 thousand 800

Applications for this category can be submitted until Mangsir 29. If adequate applications are not received within this period, the deadline will be extended until Poush 10, the bank stated.

Credit Rating

Infomerics Credit Rating Nepal has assigned the bank an IRN Single B Issuer Rating for this IPO issuance, indicating an average level of credit risk.

After the completion of the issuance process for Nepalis working abroad, the remaining 90% of the IPO shares will be issued to the general public, according to the bank.