Kathmandu. Palpa Cement Industries Limited is going to open its initial public offering (IPO) from February 22. In the first phase, the company has issued the IPO to the general public after allocating the IPO for the local residents of the industrial-affected areas and the Nepalese employed abroad. <\/p>\n
The company was allowed to issue 20% of the issued capital of Rs 3.75 billion i.e. 7.5 million units of shares. Out of the total offered shares, 18,75,000 units were issued to the locals of affected areas and 5,62,500 units were set aside for the Nepalese working abroad. <\/p>\n
Similarly, the company has allotted 2,81,250 units of ordinary shares to the mutual funds and 2,81,250 units to the employees of the company. <\/p>\n
The company is issuing 4.5 million units of shares worth Rs 450 million at a face value of Rs 100 per share. <\/p>\n
Applications can be place for minimum 10 units and maximum 1,000,000 units. The last date to apply for the IPO is March 15 at the earliest and till March 10. <\/p>\n
Infomerics Credit Ratings Nepal has assigned IRN Double B Plus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations. <\/p>\n
Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can collect ASBA applications from all ASBA member banks and their designated branch offices through the ASBA system. Similarly, the applicants can also apply online using the software ‘Mero Share’ developed by CDS and Clearing Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Palpa Cement Industries Limited is going to open its initial public offering (IPO) from February 22. In the first phase, the company has issued the IPO to the general public after allocating the IPO for the local residents of the industrial-affected areas and the Nepalese employed abroad. The company was allowed to issue 20% […]<\/p>\n","protected":false},"author":9,"featured_media":198371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45159],"tags":[],"class_list":["post-286919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/286919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=286919"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/286919\/revisions"}],"predecessor-version":[{"id":286920,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/286919\/revisions\/286920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/198371"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=286919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=286919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=286919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}