Kathmandu. Palpa Cement Industries Limited is going to issue IPO to the general public from February 22. The company has started issuing the IPO for the general investors after allocating the IPO for the local residents of the industrial affected area and the Nepalese working abroad.

The company was allowed to issue 7.5 million units of shares worth Rs 750 million, which is 20% of the issued capital of Rs 3.75 billion.

Out of the offered, 18,75,000 units of ordinary shares were issued to the locals of affected areas and 5,62,500 units were issued to the Nepalese working abroad.

Similarly, the company has allotted 2,81,250 units of ordinary shares to mutual funds and 2,81,250 units to the employees of the company.

The company is issuing 4.5 million units of shares at a face value of Rs 100 each to the general public.

Applications can be place for minimum 10 units and maximum 1,000,000 units. The closing will be on March 29 and the next one will be on March 15.

Infomerics Credit Ratings Nepal has assigned IRN Double B Plus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.

Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can collect ASBA applications from all ASBA member banks and their designated branch offices through the ASBA system.

Similarly, the applicants can also apply online using the software ‘Mero Share’ developed by CDS and Clearing Limited.