Sarvottam Paints Industries Opens IPO for General Public Starting Today
Following its successful allocation to migrant workers and mutual funds, Sarvottam Paints Industries Limited is opening its Initial Public Offering (IPO) of 705,500 shares to the general public starting today, Jestha 28. Investors can apply for a minimum of 10 shares until Ashadh 2, with Global IME Capital Limited managing the issue.
Sarvottam Paints Industries Limited has officially opened its Initial Public Offering (IPO) for general investors starting today, Jestha 28. Out of the total 850,000 shares (valued at NPR 85 million) approved for public issuance—representing 25% of its issued capital of NPR 340 million—the company has already allocated 10% (85,000 shares) to Nepalese citizens employed abroad and 42,000 shares to mutual funds. After setting aside 17,000 shares for corporate employees, the remaining 705,500 shares, valued at NPR 70.55 million, are now available for the public. Retail investors can apply for a minimum of 10 shares and a maximum of 5,000 shares, with the early closing deadline set for Ashadh 2. In case of undersubscription, the deadline will be extended until Ashadh 11. Global IME Capital Limited is serving as the issue and sales manager. Eligible investors can submit their applications via the C-ASBA system using the 'Mero Share' software or through any SEBON-approved ASBA member banks and financial institutions. Notably, Care Ratings Nepal has assigned a 'CARE-NP BB- Issuer Rating' to this issue, indicating a moderate risk regarding the company's capability to meet its financial obligations.