SY Panel Limited has opened its Initial Public Offering (IPO) and share sale applications from today. The company is offering a total of 4,076,156 shares to the general public.
Out of these, 248,546 shares are set aside for collective investment funds, and 149,127 shares are reserved for company employees. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares.
Investors can submit applications through ASBA-approved member banks and financial institutions or their designated branches. Applications can also be submitted via the “Mero Share” platform.
The IPO will close no earlier than Aswin 29 and no later than Kartik 9. Prabhu Capital Limited is managing the issuance and sale of the shares.
SY Panel had already issued shares in an earlier phase on Aswin 7 for local residents in industry-affected areas and Nepalis working abroad.
The company received permission from the Nepal Securities Board on Bhadra 17 to issue 5,232,548 ordinary shares at NPR 100 face value, totaling NPR 52.32 crore. Two percent of the issued capital, or 261,627 shares, was allocated for locals in industry-affected areas and the general public. Out of this, 10 percent, or 497,092 shares, was reserved for Nepalis working abroad with labor approval from the government.
