Sonapur Minerals and Oil To Issue IPO Shares to Locals of Dang and Rolpa District and Nepalese Employed Abroad from Shrawan 29

Sonapur Minerals and Oil Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Dang and Rolpa District and Nepalese citizens working abroad.

The IPO issue for the locals and Nepalese citizens working abroad will open from the 29th of Shrawan to the 11th of Bhadra, 2080. Note that for the locals of Dang and Rolpa District, if the issue is not subscribed by the early closing date, the issue can be extended till Bhadra 26. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.

The issued capital of the company is Rs. 3.07 Arba of which 5% i.e. 15,37,525 unit shares worth Rs. 15.37 Crores have been allocated to project-affected locals of Dang and Rolpa District.

Meanwhile, 35% of the company's issued capital i.e. 1,07,62,675 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 10,76,268 units shares have been allocated for Nepalese citizens working abroad, the issue of which will open on the date mentioned above.

The shares will be issued for Rs. 225 per share (Rs 100 face value + Rs 125 premium price) to the locals and for the Nepalese citizens working abroad at a price of Rs. 237.58 per share (Rs 100 face value + Rs 137.58 premium price).

For the project-affected locals, the minimum application quantity to be applied is 10 units while the maximum quantity is 15,00,000 units whereas for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units and the maximum quantity is 10,76,268 units.

NIMB Ace Capital has been appointed as the issue manager.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned a long-term rating of IRN BBB-(Triple B Minus) to the long-term bank facilities and a short-term rating of IRN A3 (A Three) to the short-term bank facilities.

Sonapur Minerals and Oil Private Limited, incorporated in June 2008, was later converted to Sonapur Minerals and Oil Limited on July 22, 2022. The company is presently engaged in manufacturing and selling OPC under the brand name “Sona Cement” and PPC under the brand name “Sona Shree Cement”. The business operation of the company is managed by its Managing Director, Mr. Nipesh Tayal

Offer Letter