Om Megashree Pharmaceuticals Closing 1,80,000 Units IPO Shares to Foreign Nepalese Immigrants From Today
Mon, Feb 17, 2025 9:32 AM on Latest, IPO/FPO News,
Om Megashree Pharmaceuticals Limited is closing the issue of its IPO for foreign Nepalese Immigrants today, the 5th Falgun, 2081. The issue opened on the 21st Magh, 2081.
The company's issued capital is Rs. 60 Crores of which 30% i.e. 18,00,000 unit shares worth Rs. 18 Crores will be issued later for the general public. Of this public issue, 10% of the shares totaling 1,80,000 units have been allocated for Nepalese citizens working abroad, the issue of which will close today.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 10,000 units.
According to CDSC, 50,234 applicants have applied for a total of 13,34,680 units. Thus, the issue has already been oversubscribed by 7.41 times as of 5 PM yesterday.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the ‘CARE-NP BB- (Is)’ rating for Om Megashree Pharmaceuticals Limited (OMPL), indicating moderate default risk for timely financial obligations. Additionally, CRNL has reaffirmed the ‘CARE-NP BB-’ rating for OMPL’s long-term bank facilities and the ‘CARE-NP A4’ rating for its short-term bank facilities.
Om Megashree Pharmaceuticals Limited, established on June 12, 2016, is a public limited company in Nepal, promoted by a group of institutional and individual investors. The company manufactures pharmaceutical products at its Chitwan-based plant and began partial operations on February 19, 2024.
