The initial public offering (IPO) of Salpa Bikas Bank has been oversubscribed by 19.37 times. While the bank issued 1,439,179 shares, applications were submitted for more than 27.88 million shares by 2.38 million applicants. Under the allotment rule of 10 shares per applicant, only 143,917 investors will receive shares, leaving over 2.26 million applicants without allotment. The bank stated that Rs 30 million from the IPO proceeds will be used for branch expansion, Rs 128.9 million for investment activities, and Rs 13.49 million for other purposes. Established in 2069 BS, Salpa Bikas Bank began operations after receiving approval from Nepal Rastra Bank on Ashar 1 of the same year. Its head office is in Diktel Bazaar, Khotang, and it currently operates six branches.
