Kathmandu. Palpa Cement Industries Limited has opened its initial public offering (IPO) for the general public from today. The company is issuing 45 lakh units of ordinary shares to the general public. Out of the total offered shares, 2,81,250 units have been set aside for the mutual funds and 2,81,250 units have been set aside for the employees of the company. The general public can apply for the remaining shares.

Applications can be place for minimum 10 units and maximum 1,00,000,000 units.

The interested bidders can bid for the IPO from 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 ‘My Share’ system.

According to the company, the IPO will be open at the earliest on March 28 and at the end of March 26. If there are not enough applications within the stipulated time, the deadline can be extended. Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance. The company had received permission from the Securities Board of Nepal (SEBON) on December 22 to issue 7.5 million units of shares at a face value of Rs 100 per share.

As per the approval, the company has already issued the initial public offering (IPO) to the Nepali nationals who have been working abroad and the local residents of the project-affected areas since January 10. The IPO, which is now open to the general public, is expected to attract investors.