KATHMANDU, Sept 15: Sagar Distillery Limited has opened its Initial Public Offering (IPO) for the general public starting Monday.
The company has issued 1,190,640 shares worth Rs 11,906,400,000 at a face value of Rs 100 per share. Of these, 72,600 shares are allocated for collective investment funds and 43,560 shares for employees. Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares.
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Although the IPO was initially planned to open from September 10, it was postponed due to the country’s unusual circumstances. Applications can be submitted through ASBA member banks, financial institutions, and the “Mero Share” platform.
The SDL has received approval to issue 1,452,000 shares worth Rs 145.2 million, which represents 20 percent of its issued capital of Rs 726 million. Out of this, 10 percent, equivalent to 145,200 shares at a par value of Rs 100 each, worth Rs 14.52 million, has already been allocated for migrant workers.
In its credit rating, ICRA Nepal assigned the company an “[ICRNP] B+ Issuer Rating,” indicating a high risk regarding the company’s ability to meet financial obligations on time. Muktinath Capital Limited is the issue manager for this IPO.
The applications will be closed on Thursday at the earliest, according to the company.
