Kathmandu. Srinagar Agritech Industries is going to issue the first phase of ipo from September 1. The company is going to bring the IPO for the local and foreign employment nepalis in the industry-affected areas.
The securities board of Nepal has approved the ipo of rs 326.25 million i.e. 20 percent of the issued capital of Rs 1.63 billion. Accordingly, the company will issue a total of 3,262,500 units of shares at a face value of Rs 100 each.
The company will issue 163,125 units of shares worth Rs 16,312,500, representing 1 per cent of the issued capital, to the locals of the industry-affected areas. Locals of Rupandehi and Palpa districts will be able to submit purchase applications in this IPO.
Similarly, nepalis in foreign employment can apply for 309,938 units of shares representing 10 percent of the total shares allocated for the general public. Both groups can apply for a minimum of 10 units and a maximum of 10,000 units of shares.
Locals can apply from Nabil Bank’s Tansen, Palpa and Farsatikar branches, NMB Bank’s Tansen and Farsatikar branches and Global IME Bank’s Tansen. Nepalis in foreign employment can apply through the C-ASBA system and my share of CDSC from asba service banks and financial institutions and their designated branch offices licensed by the Securities Board of Nepal.
The ipo issued for the locals will be closed at the earliest on September 15 and late on September 15 after the banking hours. The IPO issued for Nepalis in foreign employment will be closed on September 15 and the issue will be closed on September 15.
Nabil Investment Banking is the IPO sales manager of Srinagar Agritech Industries.
