Sarbottam Paints IPO to open on Monday

Kathmandu. Sarbottam Paints Industries Limited is issuing the first phase of IPO from today. The company is issuing 85,000 units of Initial Public Offering (IPO) targeting the Nepali nationals who are employed abroad.

Out of the total offered 25% of the issued capital of Rs 340 crore, 10% has been allotted to the group. The face rate is Rs 100 per share.

The last date to apply for the IPO is May 7 and the deadline will be extended till May 17 if required. Applications can be place for minimum 10 units and maximum 5000 units.

The application can be submitted through My Share using the C-ASWA system. Global IME Capital has been appointed as the issue manager for the IPO issuance. After the first phase, the company will issue the IPO to the general public.