Today is the final day to apply for the IPO of Shreenagar Agrotech Industries Limited. The company issued 473,063 shares from Bhadra 11 for local residents of the project-affected areas and Nepalis working abroad.
Applications from Nepalis working abroad for this IPO close today. The company had received approval from the Nepal Securities Board to issue 32,625,000 NPR worth of 326,250 ordinary shares at NPR 100 each.
Of the total shares, 1% (163,125 shares) were reserved for local residents of Rupandehi and Palpa districts, and 10% of the public allocation (309,938 shares) was set aside for Nepalis working abroad with government labor approval.
Local residents and Nepalis abroad can apply for a minimum of 10 shares and a maximum of 10,000 shares.
Applications can be submitted at Nabil Bank (Tansen and Palpa branches), NMB Bank (Tansen and Farsatikar branches), Global IME Bank (Tansen branch), or through all ASBA member banks approved by the Securities Board and online via Mero Share.
Nabil Investment Banking Limited is managing the IPO issuance and sales. After completing this first phase, the company will issue 3,099,375 shares in the second phase for the general public.
