Sarvottam Paints Industries Limited Closing 85,000 Units IPO for Foreign Nepalese Immigrants Today
Summary
Sarvottam Paints Industries Limited is closing its IPO issue of 85,000 units reserved for Nepalese working abroad. The IPO has been oversubscribed by 12.82 times, reflecting strong investor interest.
Key Points
- Sarvottam Paints Industries Limited is closing the 85,000 unit IPO for Nepalese citizens working abroad today (24th Baishakh, 2083).
- The company's issued capital is Rs. 34 Crores, with 25% (850,000 units) offered to the public; of these, 85,000 units are reserved for Nepalese abroad.
- The IPO issue for Nepalese abroad is oversubscribed 12.82 times with 82,881 applicants requesting 1,090,000 units.
- Global IME Capital Limited is the issue manager and CARE Ratings Nepal Limited has upgraded Sarvottam Paints Industries Limited's issuer rating to 'CARE-NP BB (Is)'.
