Kathmandu. Palpa Cement Industries Limited (Palpa Cement Industries Limited) is set to issue its initial public offering (IPO) today.

According to Nabil Investment Banking, the issue manager, the IPO will be allotted at 9:30 am today.

The company had issued the IPO to the general public from February 26 to 29. As many as 450,000 applicants will get 10 units of shares through lottery. The company is issuing 4.5 million units of shares to the general public at a face value of Rs 100 per share.

The company with a total issued capital of Rs 3.75 billion was allowed to issue 7.5 million units of ordinary shares worth Rs 750 million. Out of this, 18.75 lakh units have already been allotted to the locals of the affected area. Similarly, 562,500 units have been set aside for the employees of the company while 2,81,250 units have been set aside for the mutual funds and 2,81,250 units have been set aside for the employees of the company.