Thursday, July 11, 2013

IPO shares of Sana Kisan Bikas Bank Ltdover subscribed by 34 times.

Nepalese share market has witnessed yet another successful initial public offering in Sana Kishan Bikas Bank Limited.

It has been only a month since Mega Bank Ltd. closed its smashing IPO which end up collecting more than Rs 14 arba money from the general public.

Sana Kisan Bikas Bank Limited has collected Rs.201 crore (approximately) in just four days time frame, which comes around 34 times of the total Rs 60 million issues.

Sources confirm that, Rs.33 crore was collected within 3 days of IPO issues followed by Rs.168 crore on the very last day of the IPO. Seeing the figure of the last day, it is assumed that the large amount was applied by the institutional investors and the BFI’s, since there were not many retail crowd encountered in the various collection centers allocated for this issue.

Sana Kishan had issued a total of 6 lakh units shares out of which 30,000 was set aside for mutual funds and 18,000 shares for the bank’s employees.

Sana Kisan Bikas Bank Limited (SKBBL) is promoted by Agriculture Development Bank Nepal (31.47%), Nepal Bank Limited (8.67%), Nabil Bank limited (4.34%) and 231 Small Farmers Agricultural Cooperatives (55.52%).

It will take a month of time for the issue manager i.e. Elite Capital Limited to allot the shares to the respective investors.
src: sharesansar