Sonapur Minerals to issue IPO for the general public at a premium rate, starting on the 14th of Ashwin.

Sonapur Minerals and Oil Limited has allocated IPO shares to the public from the 14th to the 17th of Ashwin in the year 2080.

Previously, the company had granted 15,37,525 unit shares to residents affected by the project in the Dang and Rolpa Districts. However, only 1,34,520 units were assigned to eligible applicants. Consequently, the remaining 14,03,005 units of unsubscribed shares from project-affected locals have been combined with 1,07,62,675 units (which represents 35% of the total issued capital reserved for the general public), resulting in a total of 12,165,680 units available for the general public.

Out of this total, 10%, or 1,216,568 units, have already been issued and allocated to Nepalese citizens working abroad. Additionally, 608,284 units have been earmarked for mutual funds, and another 608,284 units have been set aside for company employees. The remaining 97,32,544 units are intended for the general public.

The shares will be priced at Rs. 225 per share (comprising a Rs. 100 face value and a Rs. 125 premium price) for company employees and at Rs. 237.58 per share (consisting of a Rs. 100 face value and a Rs. 137.58 premium price) for the general public.

NIMB Ace Capital has been appointed as the issue manager for overseeing the IPO issuance.

Informetric Credit Rating Nepal has assigned a BBB- rating to the issuer, indicating an average level of risk.