Time Pharmaceuticals Limited is preparing to issue its IPO to the general public at Rs 450 per share after completing the institutional bidding process.
Time Pharmaceuticals Limited is preparing for its Initial Public Offering (IPO) through book building method. Bidding for institutional investors is now completed, and cut-off price is set at Rs 500 per share. As per rules of Nepal Dhitopatra Board (SEBON), the general public will get a 10 percent discount on this cut-off price. So, general public can buy the IPO at Rs 450 per share.
The company is planning to issue 10 lakh 86 thousand 500 unit shares, which is 20.50 percent of its total issued capital of Rs 53 crore. Out of this total issue, company already sold 40 percent of shares, which is 4 lakh 34 thousand 600 units, to the qualified institutional investors.
Now, remaining 60 percent of shares, which is 6 lakh 51 thousand 900 units, is allocated for the general public. Since this IPO is coming through book building method, normal investors must apply for a minimum of 50 units.
Company to Apply for SEBON Approval
With the institutional bidding process completed, company will now submit application to Nepal Securities Board (SEBON) to get the final approval for issuing IPO to general public.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
IPO, Time Pharmaceuticals, Book Building, SEBON, Share Market Nepal
