Last Day to Apply for Sarvottam Paints Industries' IPO Today
Today (Asar 2) marks the final deadline for general investors to subscribe to the Initial Public Offering (IPO) of Sarvottam Paints Industries Limited. The company has opened applications for 705,500 shares after successfully completing allotments for migrant workers, mutual funds, and employees.
The public subscription window for the Initial Public Offering (IPO) of Sarvottam Paints Industries Limited closes today, Asar 2, following its opening on Jestha 28. Having already allocated shares to Nepalese citizens employed abroad, the company is now offering the remaining public portion to general retail investors. Out of the total 850,000 units approved for issuance—representing 25% of its issued capital of Rs. 340 million—the company has previously allotted 10% (85,000 units) to migrant workers and 42,000 units to mutual funds. Following a reservation of 17,000 units for company employees, the remaining 705,500 units valued at Rs. 70.55 million are available to the public. Interested investors can apply for a minimum of 10 units up to a maximum of 5,000 units. Global IME Capital Limited is managing the share issue. Applications can be submitted via the C-ASBA system through authorized bank branches or online via CDS and Clearing Limited's 'Mero Share' software. Ahead of the float, Care Ratings Nepal assigned a 'CARE-NP BB-' issuer rating to the company, indicating a moderate risk profile regarding its ability to meet financial obligations.