Kathmandu. Nepal Stock Exchange (NEPSE) and Time Pharmaceuticals have signed an agreement. The process of sealing the tender between NEPSE and the company has been started.

The agreement was signed by Mr. Chudamani Chapagain, CEO of NEPSE and Mr. Sudarshan Lal Shrestha, Managing Director of Time Pharmaceuticals. The event was attended by Mr. Sudip Ghimire, Company Secretary and Mr. Manohar Kandel on behalf of Nabil Investments, the issue manager of the company.

The Securities Board of Nepal (SEBON) has issued 4,34,600 units of ordinary shares at the rate of Rs 100 per share to the eligible institutional investors as per the provisions of the existing securities registration and issue regulations and securities issue guidelines. The agreement related to sealed bidding has been signed between BEPSE and Time Pharmaceuticals Limited in accordance with the Book Building Directive, as per the Book Building Directive, and NEPSE will facilitate in the process of closing the tender and other conditions.

Time Pharmaceuticals Limited is set to issue 10,86,500 units of ordinary shares worth Rs 10,86,50,000 through the Ordinary Share Book Building method. Out of the total offered shares, 40% of the shares will be issued to qualified institutional investors and the remaining 60% will be issued to the general public. After the issuance of the shares, the paid-up capital of the company will be Rs. It will be Rs 53 crore.

Time Pharmaceuticals Limited is a WHO-GMP certified company that has been producing more than 200 quality medicines by establishing a central office in Gaindakot Municipality Ward No. 04 of Nawalparasi district, a production plant (industry) in Gaindakot Municipality Ward No. 10 and a marketing office in Satdobato, Lalitpur by providing direct employment to about 300 employees.