Kathmandu. Srinagar Agritech Industries Limited (SRINAGAR) is issuing its initial public offering (IPO) to the general public from today.

The company was allowed to issue 20 percent of the issued capital of Rs 1,63,12,50,000 i.e. 32,62,500 units of shares. Out of this, 1,63,125 units of ordinary shares have been issued to the locals of the affected areas and 3,09,938 units of ordinary shares have been issued to the Nepalese living abroad for employment.

The company has set aside 1,54,969 units for the mutual funds and 1,23,975 units for the employees of the company. In the second phase, the company is issuing 2,510,493 units shares worth Rs 25,10,49,300 to the general public.

Applications can be place for minimum 10 units and maximum 10,000 units. The last date to apply for the IPO is October 29. If the application is not received as per the demand within this period, the application can be submitted till October 9.

Nabil Investment Banking has been appointed as its issue manager. The interested bidders can apply for the IPO through Securities Board of Nepal (SEBON) approved banks and financial institutions.