Kathmandu. Sarbottam Paint s Industries Limited has opened the issue and sale of Primary Shares (IPO). In the first phase, the company has issued IPO for Nepalese working abroad.

The company was allowed to issue 8,50,000 units of shares worth Rs 8,50,000 i. e. 25% of its issued capital of Rs 34 crore.Out of this, 85,000 units of shares worth Rs 85 lakh to be issued by the concerned body of the Government of Nepal with the approval of the concerned agency Nepalese who are in foreign employment and .

The interested investors can apply for a minimum of 10 units of shares and a maximum of 5,000 units of shares can be applied for the IPO. Nepalese working abroad can apply for the IPO till May 7.If the application is not submitted within that period , the issuance period will be extended till May 19.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance and the issue manager is Global IME Capital Limited.Nepalese in foreign employment approved by the Securities Board of Nepal all ASBA members banks and financial institutions and their designated branches and CDS and {{TAG_OPEN_ Applications can be submitted through the C-ASBA system using the software ‘My Share’ online manufactured by span_17}Clearing Limited.

IPO Issue Rating Care Ratings Nepal has assigned the Company CareNP Double B minus Issue Rating. This indicates that there is a moderate risk to the company’s ability to meet its obligations .