Sarbottam Cement appointed a sales manager to issue the IPO

Kathmandu, March 17

Sarbottam Cement has appointed Global IME Capital as its sales manager to issue ordinary shares (IPO). The company organized a program on Wednesday i.e. today and appointed Global IME as the sales manager.

The company has also appointed Prabhu Capital and NIBLS Capital as assistant sales managers. Sarbottan Cement is preparing to issue an IPO through bookbuilding.

The company currently has a paid-up capital of Rs 3.40 billion. The company is about to issue an IPO worth 15 percent i.e. Rs 6 million. Sarbottam Cement is the first company in Nepal to issue an IPO through book building. The company has informed that the minimum price of IPO will be fixed at Rs 750 through book building method. However, the company has stated that the lower limit of the sale price of the company can be reduced by 20 percent i.e. Rs 600 and the upper limit of Rs 750 can be increased by 20 percent i.e. Rs 9.

Out of the 6 million IPOs of the company, 2.4 million shares will be issued to eligible institutional investors and out of the remaining 3.6 million shares, 800,000 shares will be issued to locals, 300,000 shares to employees and 2.5 million shares to the general public.

Given the current state of the company, the company has the capacity to pay 10 percent bonus and 25 percent cash dividend to investors within three months of the issuance of the IPO.