Kathmandu. Sarbottam Paints Industries is going to issue IPO from June 12. After the IPO issuance, the company is going to issue the IPO for the general public.

The company was allowed to issue 8,50,000 units of shares worth Rs 85 million i.e. 25% of its issued capital of Rs 34 crore. Out of the total offered shares, 10% i.e. 85,000 units have been allotted to the Nepalese employed abroad.

Similarly, the company has already allotted 42,000 units of ordinary shares to mutual funds. The company is issuing 7,05,500 units of shares worth Rs 7,05,50,000 to the general public after allotting 17,000 units to its employees.

Applications can be place for minimum 10 units and maximum 5000 units. The general public can apply for the IPO till June 2. If the application is not submitted within this period, the issue period will be extended till June 26.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares online from all ASBA member banks and financial institutions and their designated branches and CDS & Clearing Limited.