June 2, Kathmandu: The Sarvottam Paints IPO will begin from June 11.
Sarvottam Paints plans to distribute a total of 850,000 ordinary shares worth Rs. 85 million that form 25% of the company’s total issued shares. Of the total number of shares, 85,000 shares have been allotted to Nepali expatriates, 42,000 to mutual fund houses, and 17,000 to employees.
Post allocation, there will be 705,500 shares left to be issued to retail investors in the second phase of the IPO.
The number of shares per investor can range from a minimum of 10 shares to a maximum of 5,000 shares. The issuance of shares will terminate on June 16 in case the application is fully taken up; otherwise, it will stay open till June 25.
Global IME Capital is assigned as the issue manager for this issue. The application form can be obtained from C-ASBA member banks and financial institutions as well as from the Meroshare facility.
The rating of the company is BB-, given by Care Ratings Nepal.
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