Kathmandu, May 7: Today is the last day when eligible migrant foreign workers can submit their application forms for the Sarvottam Paints Industries IPO. The company had launched the Sarvottam Paints Industries IPO process for foreign migrants starting from May 4.
A total of 25 percent of the ordinary shares of the total issued capital of Rs 340 million will be issued by the company. A total of 850,000 units of shares valued at Rs 85 million will be issued to the general public.
From the total number of shares, 10 percent (85,000 units, each unit valued at Rs. 8.5 million) has been set aside for Nepalese people who have settled abroad.
Applicants who qualify can purchase shares from a minimum of 10 units up to a maximum of 5,000 units.
Global IME Capital Ltd. has been selected as the issue manager for the IPO.
Applications from investors will be accepted from all C-ASBA approved banks and other financial institutions and the MeroShare portal.
The company has received a ‘BB-’ rating by CARE Ratings Nepal, which means there is moderate risk involved in fulfilling financial obligations on time.
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