Sarbottam Paints to issue IPO to the general public from June 28

Kathmandu. Sarbottam Paints Industries Limited is going to open its initial public offering (IPO) to the general public from June 12. The company is issuing 7,05,500 units of ordinary shares (IPO) at a face value of Rs 100 per share.

Prior to this, the company had issued 85,000 units of shares to the Nepali nationals who were in foreign employment from May 4 to May 7. After the completion of the allotment of shares, the IPO will be opened to the general public in the second phase.

Applications can be place for minimum 10 units and maximum 1000 units. The application deadline for the IPO will be till June 15 at the earliest and the sale will be open till June 27 if required.

Care Ratings Nepal has assigned ‘Care NP Double B Issuer Rating’ to the company. This rating indicates a moderate level of risk to the company’s ability to meet its financial obligations on time.

The interested bidders can apply for the shares from ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and through their designated branch offices. Also, you can apply for an IPO through my shares. Global IME Capital Limited has been appointed as the issue manager for the IPO issuance.