Sonapur Minerals and Oil Limited Receives Permission for IPO Issue

Sonapur Minerals and Oil Limited has been granted permission by the Securities Board of Nepal (SEBON) to conduct an Initial Public Offering (IPO) on Shrawan 17.

The company has obtained approval to issue 1 crore 23 lakhs and 200 unit shares at a premium price. These shares will be offered at Rs 225 per share to locals and employees, and at Rs 237.58 per share to the general public. NIMB Ace Capital will act as the issue manager for the share offering. Sonapur Minerals and Oil Limited had applied to the Board on the 4th of Asoj to seek permission for the IPO issue.

Located in Dang District, Sonapur Minerals and Oil Limited is the largest cement-producing company in West Nepal.

Following the approval for the issuance of shares, the number of cement companies in the Nepali capital market will increase to 3. Currently, Shivam Cement is the only listed cement company, while Ghorahi Cement is in the process of issuing shares and allotment of shares.

Furthermore, Sarbottam Cement has also sought permission to issue an IPO, and they have requested permission to do so through the book building method.