Today (Bhadra 1) is the last day for Nepali citizens working abroad to apply for the first phase of Sagar Distillery Limited’s Initial Public Offering (IPO). The company opened the issue on Shrawan 28.
The Nepal Securities Board has authorized the company to issue 1.452 million shares, equivalent to 20% of its issued capital worth Rs 726 million. Out of this, 145,200 shares, valued at Rs 14.52 million at a par value of Rs 100 per share, have been allocated exclusively to Nepalis working overseas with valid labor permits.
Applicants are required to apply for a minimum of 10 shares and can apply for up to 7,000 shares through the C-ASBA system at banks and financial institutions approved by the Securities Board.
Infomerics Credit Rating Nepal has assigned the company an issuer rating of [IRN] BB+, indicating a high risk regarding its ability to meet financial obligations on time. The issue is being managed by Muktinath Capital Limited.
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