Everest Colour Limited Launches IPO for Nepalis Working Abroad Starting Today
Everest Colour Limited has opened its Initial Public Offering (IPO) for Nepali citizens working abroad starting today, 16th Baisakh 2083. The company is issuing 79,000 units of shares under this category, with the subscription window remaining open until 22nd Baisakh, and possibly extending to 30th Baisakh if the issue is not fully subscribed.
Everest Colour Limited has opened its Initial Public Offering (IPO) for Nepali citizens working abroad starting today, 16th Baisakh 2083. The company is issuing 79,000 units of shares under this category, with the subscription window remaining open until 22nd Baisakh, and possibly extending to 30th Baisakh if the issue is not fully subscribed.
Out of the company’s total issued capital of Rs. 30 crore, 26.33%—equivalent to 790,000 shares—has been allocated for public distribution. Within this public offering, 10% (79,000 shares) has been reserved specifically for Nepalis employed overseas. The remaining 711,000 units will later be made available to the general public.
Applicants in the foreign employment category can apply for a minimum of 10 shares and a maximum of 7,000 shares. The IPO is being managed by Muktinath Capital Limited.
CARE Ratings Nepal has upgraded Everest Colour Limited’s issuer rating to ‘CARE-NP BB (Is)’ from the previous ‘CARE-NP BB- (Is)’, indicating a moderate level of risk in meeting its financial obligations.
Established in 2011 as a private company, Everest Colour Limited transitioned into a public limited company on June 24, 2024. The company manufactures a variety of paint products, including emulsion paints, primers, enamels, distempers, and industrial coatings. Its production facility is located in Tungara-03, Chitwan, and it has been operating for more than ten years.