Sarbottam Cement allotting shares to general public on Friday

KATHMANDU, MARCH 4: Sarbottam Cement Limited has announced to allot its Initial Public Offering (IPO) this Friday, i.e. on March 7. The allotment program is going to be held at the premises of the issue manager Global IME Capital Limited, Naxal.

The company had called the general public to apply for 2 million 776 thousand 76 units of shared and later received an overwhelming response from more than a million applicants.

Among these applications, only 55 thousand 5 hundred 21 will be chosen in the program for share allottment through a lucky draw.   Sarwottam Cement is selling shares through the book-building process and, as per directives regarding the process, one can apply for at least 50 units of shares and also receive the same number of units at a minimum.  The price of shares is fixed at at Rs 360.90 per unit.

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BBB+ (pronounced ICRA NP issuer rating triple B plus) to Sarbottam Cement Limited. The rating agency 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.