Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Sarbottam Paints Industries. Applications can be submitted for the IPO till office hours today.

The company has received approval from the Securities Board of Nepal (SEBON) to issue 8,50,000 units of shares i.e. 25% of the issued capital of Rs 340 crore. Out of the total offered shares, 85,000 units have been set aside for the Nepalese working abroad.

Furthermore, 42,000 units have been set aside for the mutual fund and 17,000 units have been set aside for the employees. The company is issuing 7,05,500 units of shares to the general public. Applications can be place for minimum 10 units and maximum 5000 units.

Global IME Capital has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the post through ASBA board approved banks and financial institutions, their branches and through the ‘My Share’ system.

Care Ratings Nepal has assigned ‘Care NP Double B Minus’ Issue Rating to the company. This rating indicates a moderate level of risk to the company’s ability to bear its financial obligations.