Sarbottam Cements Rakes Applications for 3.6 million Unit Shares; Possible Cut-Off Price Rs 401

Nov 27, 2023 10:03 AM Merolagani

Sarbottam Cements that issued shares through book building process for the first time in Nepal has raked applications for 3.6 million unit of shares.

Nepal Stock Exchange (NEPSE) informed that the bid was opened at 8 am this morning. Right now, the applications are being validated and deposited money is being settled.

After completing the scanning, cut off price will be fixed. As per NEPSE, the possible cut-off price is Rs 401.

Once the cut-off price is fixed, applicants who have bid quoting above the cut-off price will be provided desired number of shares.

The company that opened the bidding to the eligible institutional investors from November 22-26.

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.

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