Let’s go to Kathmandu. Sarbottam Paints Industries Limited (SPI) has issued its initial public offering (IPO) from today. The company has already issued the IPO for the general investors after issuing the IPO of Nepalese working abroad.

The company has been granted permission to issue 8,50,000 units of shares worth Rs 8.50 crore, up to 25% of the issued capital of Rs 34 crore. Out of this, 10% i.e. 85,000 units of shares have been issued to the Nepalese working abroad. Similarly, 42,000 units have been set aside for the mutual fund and 17,000 units have been set aside for the employees.

The company is issuing 7,05,500 units of shares at a price of Rs 100 per share to the general public.

Applications can be place for minimum 10 units and maximum 5000 units. The last date to apply for the IPO is June 2.

Global IME Capital has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the IPO from Securities Board of Nepal (SEBON) through banks and financial institutions (SEBON) and Mero Shares.