Kathmandu. Om Megashree Pharmaceuticals Limited is opening the issue and sale of primary shares (IPO) from today, the 27th. After allocating the IPO issued by the company for Nepalese employed abroad, it is now going to issue the IPO for the general public.
The company had received permission to issue 1.8 million shares worth Rs. 180 million, which is 30 percent of its issued capital of Rs. 600 million. Out of this, 180 thousand shares worth Rs. 18 million, which is 10 percent, have been issued and distributed to Nepalese employed abroad after obtaining the labor approval of the concerned body of the Government of Nepal.
Similarly, the company has distributed 54 thousand shares to the company’s employees and 90 thousand shares to collective investment funds. Now, in the second phase, the company is going to issue 1.476 million ordinary shares to the general public.
The company’s IPO requires applications for a minimum of 10 shares, while applications can be submitted for a maximum of 10,000 shares. The issue will close on Chaitra 3 at the earliest and on Chaitra 12 at the latest.
Care Rating Nepal has assigned the company a CareNP Double B Minus Issuer Rating in the rating for the IPO. This indicates that there is a medium risk in the company’s ability to meet its obligations.
The company’s share issue and sale manager is Prabhu Capital Limited. Investors can apply through the C-ASBA system using the software ‘Mero Share’ online, developed by all ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal and their designated branch offices, as well as CDS and Clearing Limited.
