SY Panel Nepal Limited is preparing to open its Initial Public Offering (IPO) for the general public from Kartik 19. The company has received approval from the Securities Board of Nepal to issue a total of 52,32,548 shares at a face value of Rs 100 each.
This is the second phase of the IPO. The first phase was already completed for project-affected locals and Nepalis working abroad.
How many shares are available for the public?
Out of the total shares, 1,49,127 have been reserved for company employees and 2,48,546 for mutual funds. The remaining 40,76,156 shares will be open for the general public.
Application details
Interested applicants can apply for a minimum of 10 shares and up to 50,000 shares. To apply, investors will need at least Rs 1,000 for the minimum lot and up to Rs 50 lakh for the maximum limit.
The application period will open on Kartik 19 and close on Kartik 23, unless extended. Prabhu Capital Limited will handle the IPO as the issue manager.
Company rating and investor note
ICRA Nepal has given the company an ‘ICRANP IR BB+’ rating. This rating shows that the company has a moderate ability to meet its financial obligations.
With a growing construction and infrastructure sector in Nepal, analysts believe that interest in SY Panel’s IPO could be strong. However, investors are advised to review the company’s background and rating before making their decisions.
