Kathmandu. Sagar Distillery has extended the deadline for applying for the IPO issued to the general public.
The company had opened the IPO on September 30. The last date to apply for the IPO was September 2. However, the government has declared a public holiday on September 1 due to national mourning, so now the deadline for applying for this IPO has been extended till September 20.
Earlier, the company had said that it would open the IPO to the general public from September 25. However, considering the current difficult situation in the country, the company has postponed the IPO issuance until further notice.
The company has received permission to issue 14,52,000 units of shares worth Rs 14.52 crore, i.e., 20% of the issued capital of Rs 72.60 crore. Out of the total offered shares, 145,200 units have already been issued to Nepalese working abroad.
The company has set aside 5% i.e. 72,600 units to mutual funds and 43,560 units have been set aside for the employees of the company. The company is issuing 1,190,640 units of shares at a face value of Rs 11,90,64,000 to the general public.
In this IPO, investors can apply for the shares from the banks and financial institutions participating in the C-ASBA service and their designated branches and CDSC.
Muktinath Capital has been appointed as the issue manager for the IPO issuance.
