Last Chance Alert: Sarbottam Paints IPO Closes Today – Act Now to Secure Your Shares!
Today marks the final deadline for Nepalese migrant workers to apply for the Sarbottam Paints Industries Limited IPO. The offering includes 85,000 units reserved specifically for those employed abroad.
Today, May 6 (Baisakh 24), is the final day for Nepalese citizens working abroad to apply for the initial public offering (IPO) of Sarbottam Paints Industries Limited. The company had opened the subscription for this category of investors on May 3 (Baisakh 21).
Sarbottam Paints received approval to issue a total of 850,000 shares, representing 25% of its issued capital. Of this total, 10% (85,000 units) was allocated for Nepalese workers who have obtained labor permits and are currently employed overseas.
Interested investors can apply for a minimum of 10 units and a maximum of 5,000 units. Global IME Capital Limited is managing the share issuance and sale. Eligible applicants can submit their bids through the C-ASBA system via 'Mero Share' or through authorized banks and financial institutions approved by the Securities Board of Nepal.
In terms of credit assessment, Care Ratings Nepal has assigned a 'CARE-NP BB-' issuer rating to the company. This rating indicates a moderate risk regarding the company’s ability to meet its financial obligations.