Palpa Cement Industries to launch IPO for general public from February 24

Kathmandu: Palpa Cement Industries is set to issue an Initial Public Offering (IPO) for the general public starting February 24. The company plans to offer 4.5 million shares to public investors.

The company had earlier received approval to issue 20 percent of its paid-up capital of Rs 375 crore, equivalent to Rs 75 crore or 7.5 million shares. Of these, 5 percent of the paid-up capital (Rs 18.75 crore, 1.875 million shares) will be allocated to local residents of the industry-affected area, 562,500 shares to Nepalis working abroad, 281,250 shares to collective investment funds, and 281,250 shares to company employees. The remaining 4.5 million shares will now be offered to the general public.

The IPO will remain open from Falgun 15 to 26, and investors can apply for a minimum of 10 shares and a maximum of 100,000 shares. Nabil Investment Banking Limited has been appointed as the issue and sales manager for this share offering.