Sagar Distillery to Open IPO for General Public from Bhadra 25

Kathmandu, 17 Bhadra. Sagar Distillery Limited has announced that it will open its IPO (public issuance) for general investors from Bhadra 25.

The company has received permission from the Securities Board of Nepal to issue 14,52,000 shares, which is 20 percent of the total capital of 72 Crore 60 lakh Nepali Rupees. This includes 1,45,200 shares reserved for Nepalis working abroad, 72,600 shares for collective Mututal funds, and 43,560 shares for company employees.

Now, the remaining 11,90,640 shares will be issued for the general public. These shares have a face value of 100 rupees per share and their total value will be 11 crores 90 lakh 64 thousand rupees.

Applications for the IPO can be submitted from Bhadra 25 to 29. If sufficient applications are not received within this period, it will be extended until Ashwin 8. Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares.

In the rating conducted for the IPO issuance, ICRA has provided Sagar Distillery with an IRN (B)+ (IS) Single B Plus Issuer rating, indicating that while the company is in high risk of fulfilling financial obligations in a timely manner.

Muktinath Capital Limited is the issue and sale manager for the securities. Investors can apply through participating banks and financial institutions via the C-ASBA system.