Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Salpa Bikas Bank.

Applications can be made for the company’s IPO till today’s office hours. The bank is issuing the IPO from January 16.

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 bank is issuing 14,39,179 units of shares worth Rs 14,39,17,900 to the general public.

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.