Palpa Cement Extends IPO Application Deadline for Industry-Affected Locals Until February 4

Palpa Cement Industries Limited has extended the application deadline for its IPO issued to local residents of industry-affected areas. The IPO, which opened on January 9 (Poush 25), will now accept applications until February 4 (Magh 11). Out of the company’s issued capital of NPR 3.75 billion, approval was granted to issue 20 percent, equivalent to 7.5 million shares, of which 5 percent—1.875 million ordinary shares worth NPR 187.5 million—has been allocated to local residents of West Nawalparasi and Palpa districts affected by the industry and mining operations. Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares. Infomerics Credit Rating Nepal has assigned the company an IRN BB+ issuer rating, indicating moderate risk. Nabil Investment Banking Limited is the issue and sales manager, and applications can be submitted through designated bank branches.