Srinagar Agritech IPO: Opportunity for Industry-Affected Locals and Nepalis Working Abroad

Srinagar Agritech Industries Limited is set to launch its Initial Public Offering (IPO) from August 27 (Bhadra 11), targeting both residents of the industry-affected areas in Rupandehi and Palpa districts, as well as Nepalis currently employed abroad.

The company has received approval to issue 3,262,500 ordinary shares worth NPR 326.25 million, equivalent to 20% of its issued capital of NPR 1.63 billion. Out of this, 163,125 shares have been reserved for local residents of the affected areas, while 309,938 shares are allocated for Nepalis working overseas with official labor permits.

Applicants can apply for a minimum of 10 shares and a maximum of 10,000 shares. The issue for locals will close between September 10 (Bhadra 25) and September 25 (Ashoj 9), while for overseas workers it will remain open between August 31 (Bhadra 15) and September 10 (Bhadra 25).

ICRA Nepal has assigned the company a rating indicating a high credit risk. The issue manager for the IPO is Nabil Investment Banking Limited. Local residents can apply through designated branches of Nabil Bank, NMB Bank, and Global IME Bank, while overseas Nepalis can apply through all C-ASBA member banks and financial institutions.