Kathmandu. Sarbottam Paints Industries Company Limited has issued initial public offering (IPO) to Nepalese migrant workers in the first phase from today.

The company has been granted permission to issue 8,50,000 units of shares i.e. 25% of the issued capital of Rs 34 crore. Out of this, 85,000 units of shares worth Rs 85 lakh have been issued for the Nepalese employed abroad.

Applications can be place for minimum 10 units and maximum 5000 units. Nepalis working abroad can apply till May 24.

Global IME Capital has been appointed as the issue manager for the IPO issuance. Nepalese who are in foreign employment can apply for the shares from the Securities Board of Nepal (SEBON) through banks and financial institutions with C Ashwa members and Mero Mero Shares.