Sopan Pharmaceuticals Opens IPO to General Public from Today
Sopan Pharmaceuticals launches its public IPO today, offering 3,474,900 units at Rs 100 each, with applications open until Baisakh 8.
Sopan Pharmaceuticals Limited has officially opened its Initial Public Offering (IPO) to the general public starting today, Baisakh 3. Following the successful allocation of shares to Nepalese citizens working abroad, the company is now offering the remaining 34,74,900 units of ordinary shares at a par value of Rs 100 per share. This issuance is part of a larger plan to raise Rs 42.90 crore, representing 25% of the company's issued capital.
Investors can apply for a minimum of 10 units and a maximum of 11,000 units through the C-ASBA system or the MeroShare portal. The subscription period is scheduled to close on Baisakh 8, with a possible extension to Baisakh 17 if not fully subscribed. NMB Capital Limited is managing the issue. Prospective investors should note that CARE Ratings Nepal has assigned a 'CARE-NP Single B' rating to the issuer, indicating high risk regarding the company's ability to meet financial obligations.