1,45,200 shares reserved under foreign employment quota; application deadline is Bhadra 1
Sagar Distillery Limited is set to open its Initial Public Offering (IPO) for Nepalis working abroad starting Shrawan 28 (August 12). The company has received approval to issue 1.452 million shares, equivalent to 20% of its paid-up capital of Rs. 726 million, amounting to Rs. 145.2 million in total IPO value.
Out of the total offering, 10% (145,200 shares) worth Rs. 14.52 million has been specifically reserved for Nepali citizens currently employed abroad who hold valid labor approvals from the Government of Nepal.
The application deadline for this special group is set for Bhadra 1 (August 17). However, if there are insufficient applications within the initial period, the deadline may be extended to Bhadra 11 (August 27).
Eligible applicants can apply for a minimum of 10 shares and up to a maximum of 7,000 shares.
The company has received a credit rating of [ICRANP-IR] C (Single B Plus) from Infomerics Credit Rating Nepal, indicating a high risk of default in fulfilling financial obligations on time.
Muktinath Capital Limited is the issue and sales manager for this IPO. Nepalis working abroad can apply through C-ASBA systems provided by SEBON-approved banks and financial institutions offering ASBA services.
Originally published at https://bajarkochirfar.com. Translated and curated by the editorial team.
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