Sarbottam Cement offers over 2.7 million shares to public

KATHMANDU, FEBRUARY 25: Sarbottam Cement Limited has today announced the opening of its Initial Public Offering (IPO) through the book-building process. It came up with the offer of a total number of 2 million 746 thousand 76 units of shares after the allotment of shares to the institutional investors, those going for foreign employment and affected locals.

According to the Issue Manager, Global IME Capital, the date of the subscription period is set till February 28.  The very date may be extended untill March 10 if the issue is not fully subscribed.

Earlier, the cement manufacturer had opened 930 thousand units of shares for the affected. However, out of them, 681 thousand 5 hundred 30 shares were not subscribed that were later included in the total number of IPO mentioned above.

Interested investors shall spply to subcribe to at least 50 units of shares the price of which is set at Rs 360.90 per unit.

For the last one decade, Sarwottam Cement has been producing cement and clinker products from its factory situated at Jodeni (Ward no. 11) in the Sunwal Municipality of the Nawalparasi District. The  per day production capacity stands at 3000 tons of cement and the equal amount of clinkers.

The issued capital of the company amounts to Rs 4.65 billion while the authorised capital stands at Rs 5 billion. After the distribution of the IPO, the paid-up capital will be to the tune of Rs 4.64 billion. As far as the equity structure of Sarwottam Cement goes, the instutitional investors accounts for 87.0967 percent and the genetal public holds 12.9033 percent.