Kathmandu. Everest Color Limited is going to open its IPO from June 22. The company has set the initial public offering (IPO) to the general public after allocating the IPO for the Nepalese employed abroad in the first phase.
The company has a total issued capital of Rs 300 crore. The 33 per cent of the total offered shares worth Rs 7.90 crore was approved for the IPO issuance. Out of the total shares, 10% has already issued 79,000 units of shares worth Rs 79 lakhs to the Nepalese employed abroad.
Similarly, 39,500 units have been set aside for the mutual funds and 15,800 units for the employees. In the second phase, the company is issuing 6,55,700 units of shares at a face value of Rs 100 each to the general public.
Applications can be place for minimum 10 units and maximum 10,000 units of shares can be applied for the IPO. The interested investors can apply for the IPO till June 19 at the earliest.
Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. Care Ratings Nepal has assigned CareNP Double B Issuer Rating to the company for the IPO issuance. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
The interested bidders can apply for the shares online from all ASBA member banks and financial institutions and their designated branches and CDS & Clearing Limited.
