Last Day to Bid for Shares of Sarbottam Cements

Nov 26, 2023 08:38 AM Merolagani

Today is the last day to bid for shares of Sarbottam Cements. 

The company, which has become the first company to issue shares through book building method,is issuing the shares to the eligible institutional investors from November 22.

The company sought approval to issue 12.9033 percent shares i.e. 6 million units of shares of its issued capital of Rs 4.65 billion. Out of it, in the first phase, the company is issuing 40 percent i.e. 2.4 million units in between Rs 401 to Rs 601 from previous price limit of Rs  501 to Rs 751.

The company is selling the shares to eligible institutional investors through bidding carried out by Nepal Stock Exchange. 

The company has appointed Global IME Capital as issue manager and NIMB Ace Capital and Prabhu Capital as co-issue manager.

The investors can submit their sealed bidding for the shares in the registered office of NEPSE in UNI Shantimarg, Bhadrakali.

NEPSE will reveal the cut off price on the following day of the closing date of the issuance based on the applications received. Investors who have applied above the cut-off price will be provided the shares.

ICRA Nepal has assigned BBB rating to the issuer indicating moderate risks.



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