Sarbottam Cement's IPO Allotment for Nepalese Expatriates Concludes: 5,340 Applicants Successfully Allotted 50 Units Each

Sarbottam Cement Limited has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded today morning i.e. on 17th Magh, 2080 at the premises of issue manager Global IME Capital, Kathmandu.

Sarbottam Cement had offered 267,000 units of IPO shares through the book-building process at a price of Rs. 360.90 to Nepalese citizens employed abroad. The subscription period for the IPO ran from 25th Poush to 10th Magh, 2080. During this period, interested applicants could apply for a minimum of 50 units and a maximum of 10,000 units.

The response to the IPO was notable, with a total of 33,824 applications received for the 21,39,220 unit shares. Following the allotment module, it was observed that 14 applications, which had applied for 720 units, were disqualified. However, a significant majority of 33,810 applications were approved.

From the approved applications, 5,340 applicants out of 33,810 have been successfully allotted 50 units each in the IPO allotment process through lottery.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Global IME Capital.

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BBB+ (pronounced ICRA NP issuer rating triple B plus) to Sarbottam Cement Limited. ICRA Nepal has also reaffirmed the long-term rating of [ICRANP] LBBB+ (pronounced ICRA NP L triple B plus) and the short-term rating of [ICRANP] A2 (pronounced ICRA NP A two) to Sarbottam’s bank loan limits.