Kathmandu. Salpa Bikas Bank Limited (SLBL) is issuing Initial Public Offering (IPO) to the general public from today.

Earlier, the bank had issued its shares to the general public from today.

The bank was allowed to issue 17,23,880 units of the issued capital of Rs 52,23,88,000 i.e. 33 percent i.e. 17,23,880 units.

Out of the total offered shares, 1,72,388 units have been allotted to foreign nationals and 8,6194 units have been allotted to mutual funds.

The company has fixed 26,119 units of shares for its employees. The company is issuing 14,39,179 units of shares at a face value of Rs 14,39,17,900 to the general public from today.

Applications can be submitted till May 20. If the application is not received as per the demand within the stipulated period, the application can be submitted till January 30. Applications can be place for minimum 10 units and maximum 25,000 units.

Muktinath Capital has been appointed as the issue manager. The interested bidders can apply for the shares from the Securities Board of Nepal (SEBON) through the banks and financial institutions that are members of the Securities Board of Nepal (SEBON).

Infomerics Credit Ratings Nepal has assigned IRN Single B Issuer Rating to the bank. This indicates that the company is at high risk in terms of being able to meet its financial obligations over time.