Kathmandu. Sagar Distillery Limited is going to open ipo issue and sale from Today. In the first phase, the company is going to issue an IPO 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, 145,200 units of shares worth Rs 14.52 million with face value of Rs 100 per share will be issued for Nepalis working abroad after obtaining labour permit from the concerned agencies of the Government of Nepal.
Applications for the IPO can be made till August 15. If there are not enough applications within that period, the application can be submitted till August 15. Nepalis in foreign employment will have to apply for a minimum of 10 units and a maximum of 7,000 units.
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.
Muktinath Capital Limited is the issue manager of the company. Nepalis in foreign employment can apply through the C-ASBA system from the banks and financial institutions participating in the ASBA service after obtaining permission from the Securities Board of Nepal.
