Om Megashree Pharmaceuticals IPO Closes with 16.05 Times Oversubscription

Om Megashree Pharmaceuticals Limited had closed the issue of 14,76,000 units of IPO shares yesterday, the 3rd Chaitra, 2081. The issue was opened for the general public on the 27th Falgun, 2081.

The company's issued capital was Rs. 60 Crores, of which 30%, i.e., 18,00,000 unit shares worth Rs. 18 Crores, had been issued later for the general public. Of this public issue, 10% of the shares, totaling 1,80,000 units, had already been issued for Nepalese citizens working abroad. Out of 18,00,000 units, 90,000 (i.e., 5% of 18,00,000) had been set aside for mutual funds, and 54,000 (i.e., 3% of 18,00,000) units had been set aside for the company's employees. The remaining 14,76,000 units had been for the general public, the issue of which had closed yesterday.

Prabhu Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

According to CDSC, 19,88,836 applicants have applied for 2,36,91,510 units worth Rs. 2.36 Arba. Thus, the issue has already been oversubscribed 16.05 times.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the ‘CARE-NP BB- (Is)’ rating for Om Megashree Pharmaceuticals Limited (OMPL), indicating a 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.