Mon, May 14, 2018 8:26 AM
Shivam Cement has kick started all the necessary formalities to issue its earlier proposed IPO shares to the general public. As per the source privy with Lucky Group which is the stakeholder of the cement company, the necessary process are currently being undertaken to float the shares to public in a premium price.
The cement producer which is one of the largest cement industry in the country hasn’t yet divulged the price in which the IPO shares would be floated in the market. As per the people privy with the matter, the pricing shall be done after receiving final go- ahead from SEBON. Having said that, the pricing would be done keeping interest of both the general public and the company into consideration, as informed by concerned officials.
It has been known that SEBON as already provided first comment to the proposed IPO shares of the cement producer in which the board has majorly sought the third quarter financial report for the fiscal year 2074-75. The company is apparently in the process of submitting the Q3 report to the board and the IPO issuance date and pricing would be finalized once the board provides its nod for the same.
The cement company through its 13 Annual General Meeting held on Poush 25, 2074 had endorsed a decision to issue 10% of its shares to general public and additional 2% to the project affected locals of Makwanpur district for which it went to SEBON on Chaitra 6, 2074 for its approval. If the things go as planned, the cement industry will issue 8.80 lakh unit shares to the project affected locals of Makwanpur district and 44 lakh units shares to general people in near future.
The cement factory has its own clinker plant which produces 1.9K tons clinker every day thereby producing 1.2K tons cement in a daily basis. The hetauda based cement factory was set up 7 years ago with an establishment capital of Rs 4 arba.