Kathmandu. Srinagar Agritech Industries’ initial public offering (IPO) has extended the deadline for the industry-affected locals to apply.
The company had opened the IPO for local and foreign employment in the first phase from August 24. In this IPO, the Nepalese working abroad had to apply till August 15. For the locals, the application deadline was till September 10, but now it has been extended by two days till September 14.
The Securities Board of Nepal (SEBON) has granted permission to the company to issue an initial public offering (IPO) of Rs 1.63 billion. Accordingly, the company will issue 32,62,500 units of shares at a face value of Rs 100.
The company has issued 1,63,125 units of shares worth Rs 1,63,12,500 to the locals of the affected area. Locals of Rupandehi and Palpa districts can apply for the IPO.
Applications can be place for minimum 10 units and maximum 10,000 units. The locals can bid for the shares from Nabil Bank’s Tansen, Palpa and Farsatikar branch, NMB Bank’s Tansen and Farsatikar branch and Global IME Bank’s Tansen. Interested Nepalese can apply for the post through the Securities Board of Nepal (SEBON) approved ASBA service banks and financial institutions and their designated branch offices through the C-ASBA system and CDSC’s Mero Shares.
Nabil Investment Banking has been appointed as the issue manager for the IPO of Srinagar Agritech Industries.
