Kathmandu. Today is the last day to file for the IPO of Sarbottam Paints Industries Limited. The company is issuing its initial public offering (IPO) from June 12. The company has issued the IPO for the general public after the IPO issuance for the Nepalese working abroad.
The company was allowed to issue 8,50,000 units of shares worth Rs 8.5 crore, i.e., 25% of its issued capital of Rs 34 crore. Out of the offered, 10% i.e. 85,000 units of shares have been issued to the Nepalese working abroad. Similarly, the company has already allotted 42,000 units of ordinary shares to mutual funds.
The company has set aside 17,000 units for its employees and the remaining 7,05,500,000 units are available to the general public.
Applications can be place for minimum 10 units and maximum 5000 units.
Care Ratings Nepal has assigned CareNP Double B Minus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares online from all ASBA member banks and financial institutions and their designated branches and CDS & Clearing Limited.
