Tuesday, July 2, 2013

Sana Kisan Bikas Bank Limited issues IPO from Asar 23, 2070

Sana Kisan Bikas Bank Limited has announced to bring out its IPO on Asar 23, 2070.

The company is floating 6,00,000 shares, out of which 30,000 has been set aside for mutual funds and 18,000 shares for the bank’s employees. The shares set aside for mutual funds have already been distributed equally among Nabil Balance Fund-1 and Siddhartha Investment Growth Scheme-1.

The minimum IPO closing date of this IPO is on 26th Ashad and maximum date it can extend its IPO if its undersubscribed is on 6th Shrawan, 2070. The bank has appointed Elite Capital Limited as its issue manager.

As per the financial statement published along with the IPO notice, the bank’s paid-up capital stands at Rs 1,40,000,000 and its Reserve and surplus at Rs 5,07,07,1000 as of Poush, 2069/70. The bank earned a net profit of Rs 4,33,42,000. The bank’s earnings per share (EPS) is Rs 30.93 and its net worth has been valued at Rs 462.19

Sana Kisan Bikas Bank Limited (SKBBL) was 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%).

ICRA Nepal has assigned an IPO Grade 3, indicating average fundamentals to the proposed initial public offering (IPO) of Sana Kisan Bikas Bank Limited (SKBBL). Source: sharesansar

Official Announcement Notice: