KATHMANDU

Sarbottam Cement has released its initial public offering (IPO) in book building for the first time in Nepal. Only institutional investors can apply for the IPO released by the company on Wednesday, Mangsir 6. After the distribution of shares to institutional investors, the general public can apply.

The company has started issuing 60 lakh units of shares worth Rs 4 billion and 65 crores, which is 12.9033% of the total capital. Among them, 40%, or 24 lakh units of shares, will be provided to institutional investors, while the remaining 60%, or 36 lakh units of shares, will be issued to the general public.

The minimum price for the company’s shares has been fixed at Rs 401 and the maximum at Rs 601 and 50 paisa. Eligible institutional investors will have to submit their bids for the shares issued by the company until December 10. The confidential bidding letter, which has been sealed, will have to be submitted to the registered office of the Nepal Stock Exchange in Bhadrakali.

Global IME Capital is the issue manager and sales manager for the company’s debenture issuance, while NIBL Ace Capital and Prabhu Capital are the sales and sales managers, respectively.