Kathmandu. Everest Colours Limited is going to issue the first phase of its initial public offering (IPO) from April 29. The Securities Board of Nepal (SEBON) has granted permission from the Securities Board of Nepal (SEBON) to issue 7,90,000 units of shares worth Rs 7,90,000 i. e. 26.33 percent of the issued capital of the company.
In the first phase, 10 percent i. e. 79,000 units of shares have been allotted to the Nepalese employed abroad. The interested investors can apply for a minimum of 10 units and maximum of 7,000 units of shares at a face value of Rs 100 per share. The application period will be till May 5 and if there is no demand, it can be extended till May 13.
Muktinath Capital Limited has been appointed as the issue manager for the IPO and the applications can be submitted through My Share System and ASBA member banks. The company has been assigned a rating of “CareNP Double B” by Care Ratings Nepal, indicating moderate risk. The company has its headquarters at Kaushaltar of Bhaktapur and its factory operates at Khairahani of Chitwan.
The company, which has been producing paint for 14 years, has accumulated profit of more than Rs 9 million as of mid-January of the current fiscal year.
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