Palpa Cement Industries Limited is set to open its Initial Public Offering (IPO) for the general public from Falgun 12 under its second phase. The company will issue 4.5 million ordinary shares to the general public.
Out of the total shares being issued, 281,250 units have been allocated for mutual funds and an equal 281,250 units have been reserved for company employees. The remaining shares will be available for the general public, who can apply for a minimum of 10 units and a maximum of 100,000 units.
Applications can be submitted through ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches. Investors can also apply online through the “Mero Share” system. The IPO will close as early as Falgun 15, and if oversubscribed, it will remain open until Falgun 26.
Nabil Investment Banking Limited has been appointed as the issue and sales manager for the IPO. The company had received approval from SEBON to issue 7.5 million shares worth Rs 750 million at a face value of Rs 100 per share. In the first phase, shares were already issued to Nepalis working abroad and to project-affected local residents as per regulatory provisions.
The IPO opening for the general public is expected to attract significant market interest.
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