Salapa Bikas Bank to Issue IPO, Proposal Added to SEBON Pipeline
Salapa Bikas Bank Limited has submitted a proposal to the Securities Board of Nepal (SEBON) to issue an Initial Public Offering (IPO). The proposal, filed on Baisakh 23, 2082, is currently under preliminary review in SEBON’s pipeline.
The bank plans to issue 1,723,880 shares, aiming to raise Rs. 17.23 crores through the public offering. Muktinath Capital Limited has been appointed as the issue manager for this IPO.
Infomerics Credit Rating Nepal Limited has assigned the bank a credit rating of IRN B (Is) [Single B (Issuer)], suggesting a high risk of default in meeting financial obligations on time.
About Salapa Bikas Bank Limited
Salapa Bikas Bank Limited is a regional development bank based in Khotang, Nepal. Established on 2069/04/01 under the Bank and Financial Institutions Act, 2063 (amended in 2073), the bank was licensed by Nepal Rastra Bank as a “B” class financial institution and began its operations in 2012.
As of October 15, 2024, Salapa Bikas Bank operates with a head office and six branch offices serving the Khotang district. The bank is fully owned by individual promoters, with major shareholders including Mr. Dhan Prasad Rai (0.61%) and Mr. Manindra Rai (0.50%). It has a paid-up capital of NPR 350 million as of mid-October 2024.
Named after Salapa Pokhari, a sacred and culturally significant lake in the region, the bank reflects deep local roots and a strong commitment to community-based development. Its promoters come from diverse professional backgrounds, unified by a shared vision of financial empowerment in rural Nepal.
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