Kathmandu. Today is the last day to apply for the IPO issued by Sarbottam Paints Industries.

The company has started issuing shares to Nepalese who are in foreign employment with work permit from May 21. Applications can be submitted for the IPO only till office hours today.

The company has been granted permission to issue 8,50,000 units of shares worth Rs 8.50 crore, i.e. 25% of the issued capital of Rs 34 crore. Out of this, 10 percent of the company has issued 85,000 units of shares worth Rs 85 lakh to the Nepalese who are employed abroad.

Applications can be place for minimum 10 units and maximum 5000 units.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. Nepalese who are in foreign employment can apply for the shares from the banks and financial institutions that have taken C Ashwa members from the Securities Board of Nepal and My Shares.