KATHMANDU

Sonapur Minerals and Oil Limited has extended the time for application in its IPO. The company had issued 973,205,444 shares for the general public at a price of Rs. 100 per share from Ashoj 14.

Now, the company has announced that the application can be submitted until Ashoj 28. Previously, the company had opened the application from Ashoj 14 to Ashoj 17.

Sonapur has issued its IPO at a premium of Rs. 137.58 per share, adding Rs. 58.58 as a premium to the face value of Rs. 100 per share. The company has informed us that in the first phase, the shares allocated to the affected locals have been increased by adding shares not taken by the locals, and they will be made available to the general public.

Similarly, the sales manager, NIMBS Capital, has informed that they can apply for a minimum of 10 units and a maximum of 15 lakh units.

C-ASBA member banks and financial institutions, as well as the MyShare app, can also apply. Credit Rating Agency Infomerics Nepal has provided the ‘IRN Triple B Minus Issue Rating’ indicating that this IPO is secure in terms of financial responsibility.