Kathmandu. Palpa Cement Industries Limited (Palpa) is issuing initial public offering (IPO) to the general public from today.

The company has already issued shares to the locals of industrial-affected areas and Nepalis working abroad.

The company has been allowed to issue 20% of the issued capital of Rs 3.75 billion i.e. 7.5 million units of shares. Out of the total paid-up capital, 1,875,000 units have been set aside for the locals of the affected area, 5,62,500 units for the employees of the company, 2,81,250 units for the mutual funds and 2,81,250 units for the employees of the company.

The remaining 45 lakh units of shares worth Rs 45 crore are being issued to the general public.

Applications can be place for minimum 10 units and maximum 1,000,000 units. The last date to apply for the IPO is February 29. If the application is not received within the stipulated period, the application can be submitted till March 26.

Nabil Investment Banking has been appointed as its issue manager. Investors can apply for the shares from the Securities Board of Nepal (SEBON) through banks and financial institutions that are members of the Securities Board of Nepal (SEBON).