Forward Community Microfinance Ipo

Forward community microfinance ipo

Forward community microfinance ipo

January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts.

So far, SEBON has approved 30 BFIs for ASBA implementation.

"ASBA was supposed to be implemented from January 14, however, there was no issuance of IPO or FPO during the first week.

Forward community microfinance ipo

Thus the investors will get the services for the first time in Forward Community's IPO," said Niranjan Ghimire, Joint Spokesperson of SEBON. "The system will simplify, ease and hassle free the process for investors, thus, we believe the participation will be encouraging," he added.

Investors can apply for Forward Community Microfinance's IPO directly through their bank accounts of SEBON approved BFIs by paying certain charges.

The investors can also submit their applications for free from Nabil Investment Banking, the issue manager of the IPO, in previous manner.

Initial Public Offering (IPO) Process

However, under the system, investors can easily submit their application hassle-free by paying certain fee, he said.

Under the system, investors will be charged Rs 150 per application under Rs 50,000and Rs 250 per application above Rs 50,000. SEBON clarifies that the system is not mandatory for now. 

Forward community microfinance ipo