Sagar Distillery’s IPO issue date has been fixed for the general public. Sagar Distillery Limited is going to open ipo issue and sale from September 15. The company is now issuing the IPO for the general public after allotting the IPO issued for Nepalis in foreign employment.
The company had received permission to issue 1.452 million units of IPO worth Rs 145.2 million, representing 20 per cent of the issued capital of Rs 726 million. Out of this, 10 percent of the shares have been issued and allotted to Nepalis working abroad.
The company has allotted 5% i.e. 72,600 units of shares to the mutual funds and 43,560 units of shares for the employees of the company.
The company is issuing 1,190,640 units of shares worth Rs 119 million 64 thousand to the general public at a face value of Rs 100 per share.
Applications can be made in this IPO till September 30. If the application is not received as per the demand within that period, then the application can be submitted till September 30. Investors can apply for a minimum of 10 units and a maximum of 10,000 units.
Muktinath Capital Limited is the issue manager of the company. Investors can apply through C-ASBA system from banks and financial institutions participating in the ASBA service after obtaining permission from the Securities Board of Nepal.
Infomerics Credit Rating Nepal has given iRN single B+ issuer rating to the company in the rating for the IPO issue. This indicates that the company has a high risk of being able to meet its financial obligations on time.
