SEBON Adds IPO Shares of Sarbottam Cement and Bikash Hydropower in its Pipeline

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

The company is seeking to issue 3,600,000 unit shares to the local as well as the general public. The IPO issue will raise a total of Rs. 1.29 Arba. The shares for the local and general public will be available at Rs. 360.90. The company will be issuing an IPO through the book-building method.

Global IME Capital Ltd has been appointed as the issue manager for the IPO issuance. The application was sent to SEBON on Mangsir 18, 2080.

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.

Similarly, the IPO proposal of Bikash Hydropower Company Ltd. is also added to SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 4,454,596 shares to the local as well as the general public. This will raise Rs. 44.54 crores for the company. The application was submitted on Mangsir 19, 2080.

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

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating Double B) to Bikash Hydropower Company Limited (BHCL/the company). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any debt instrument.