Kathmandu. Sagar Distillery Company is going to open its IPO issue and sale from August 15. The company is going to issue an IPO for Nepalis in foreign employment.

The company has received permission to issue 1.452 million units of IPO worth Rs 145.2 million, representing 20 per cent of the issued capital of Rs 726 million. Out of this, 145,200 units of shares worth Rs 14.52 million will be issued to Nepalis working abroad after obtaining labour permit from the concerned agencies of the Government of Nepal.

Applications for this IPO can be made till August 30. If there are not enough applications within that period, the issue period will be extended till August 15. Nepalis in foreign employment will have to apply for a minimum of 10 units and a maximum of 7,000 units.

Muktinath Capital Limited is the issue manager of the company. Nepalis in foreign employment can apply through the C-ASBA system from the banks and financial institutions participating in the ASBA service after obtaining permission from the Securities Board of Nepal.