SEBON Adds IPO Proposals of Shaurya Cements Industries and Annapurna Cable Car To Its Pipeline

The initial Public Offering (IPO) of Shaurya Cement Industries Ltd. has been added to SEBON’s IPO pipeline for approval.

The company is seeking to issue 15,981,500 unit shares to the local as well as the general public at a premium price of Rs. 264.51 per share (Rs 100 face value + Rs 164.51 premium price). The IPO issue will raise a total of Rs. 4.22 Arba. The application was submitted on Poush 12, 2080.

Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance.

CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BB’ to the long-term bank facilities and ‘CARE-NP A4’ to the short-term bank facilities of Shaurya Cement Industries Private Limited (SCIPL).

Shaurya Cement Industries Limited, a flagship enterprise of the Shanker Group, Ambe Group, and Golcha Organization in Nepal, operates a state-of-the-art greenfield cement manufacturing facility in Mirchaiya, Siraha district. Committed to fostering enduring connections, they aim to fortify Nepal by contributing to its infrastructure and envision a sustainable future through innovative approaches. With a substantial investment of 15 billion, they stand as one of the premier and largest cement producers in Nepal, boasting a daily production capacity of 3,500 metric tons, fulfilling the nation's cement needs.

Similarly, the IPO proposal of Annapurna Cable Car is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 3,100,000 shares. This will raise Rs. 31 crores for the company. The application was submitted on Poush 16, 2080.

Muktinath Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has revised the rating to „CARE-NP B+‟ from „CARE-NP BB-‟ assigned to the long-term bank facilities and reaffirmed the rating of „CARE-NP A4‟ assigned to the short-term bank facilities of Annapurna Cable Car Private Limited (ACCPL).

Annapurna Cable Car Private Limited is a Public Limited company, incorporated on March 10, 2010. It is promoted by institutional promoters and individual promoters from different backgrounds for setting up the Cable Car Project at Sarangkot, Kaski, Nepal. The Project plans to run a ropeway from the bottom station at Seti Bagar, near Fewa Lake to Sarangkot of Pokhara. The project includes about 2.3 km cable car journey, having 18 Gondolas (cable cars) to transport passengers to and from the site.