Palpa Cement Industries Limited Launches IPO for General Public, 4.5 Million Shares on Offer

Palpa Cement Industries Limited has opened the issuance and sale of its Initial Public Offering (IPO) to the general public starting today (Falgun 12). After completing the allocation for project-affected locals and Nepalis working abroad, the company has now issued 4.5 million shares worth NPR 450 million at a face value of NPR 100 per share for the public. The company had received approval to issue 20 percent of its paid-up capital, totaling 7.5 million shares. Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares. The IPO will close early on Falgun 15 and, if undersubscribed, by Falgun 26. The company has received an IRN Double B Plus issuer rating from Infomerics, indicating moderate credit risk. The issue is managed by Nabil Investment Banking Limited. Applications can be submitted through C-ASBA member banks and financial institutions, as well as via the “Mero Share” online platform operated by CDS and Clearing Limited.