Sarbottam Cement Limited is wrapping up its IPO for Nepalese citizens working Abroad Today, Extending the deadline for industry-affected locals

Sarbottam Cement Limited is wrapping up its IPO for Nepalese citizens working abroad today, extending the deadline for industry-affected locals in Nawalparasi District and mine excavation-affected locals in Palpa District until the 25th Magh. The overall issue, which began on 25th Poush, 2080, involves 60 lakh shares (12.9033% of the capital).
The company initially offered 24 lakh shares to Qualified Institutional Investors (QIIs) through the book-building process, with 41 eligible institutional investors applying for 36,19,190 shares. Now, the remaining 36 lakh shares are open to the general public, with 9,30,000 units reserved for industry-affected locals and 2,67,000 units for Nepalese citizens working abroad.
Global IME Capital manages the issue, allowing applications for 50 to 10,000 units. As of now, 32,954 applications from Nepalese citizens abroad have been received for a total of 21,06,760 units.
The common investor share price is Rs. 360.90 per share, determined by the 'cut-off price' set during the book-building process at Rs. 401. The general public enjoys a 10% discount, resulting in a reduced rate for common investors. ICRA Nepal maintains Sarbottam Cement's issuer rating at BBB+.