IPO Alert: Sarvottam Paints Public Issue Opens on Jestha 28
Sarvottam Paints Industries Limited is opening its Initial Public Offering (IPO) to the general public from Jestha 28, following the successful allotment to migrant workers and mutual funds. Investors can apply for a minimum of 10 shares and a maximum of 5,000 shares until Ashadh 2.
Sarvottam Paints Industries Limited is set to open its primary share (IPO) subscription for the general public starting Jestha 28. Having already allotted 10% (85,000 shares) of its total issue to Nepalis employed abroad and 42,000 shares to mutual funds, the company is now rolling out the remaining 705,500 units—valued at NPR 7.055 million—after setting aside 17,000 shares for its employees. Interested investors can apply for a minimum of 10 shares up to a maximum of 5,000 shares. The subscription window closes on Ashadh 2, but could be extended until Ashadh 11 if the issue is not fully subscribed. Global IME Capital Limited has been appointed as the issue manager. Applications can be conveniently submitted via the 'Mero Share' software or through any SEBON-approved C-ASBA member banks and financial institutions. For safety assessments, Care Ratings Nepal has assigned a 'CARE-NP BB-' issuer rating to the company, indicating a moderate risk in its capability to handle financial obligations.