KATHMANDU, Feb 24: Palpa Cement Industries Limited has opened its initial public offering (IPO) for the general public, allocating 4.5 million shares. The company launched the second phase of applications for retail investors on Tuesday.
The IPO offers shares at a face value of Rs 100 each, totaling Rs 450 million. Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares until February 27.
Earlier, the company had distributed 1,875,000 shares worth Rs 187.5 million to local residents in the industrially affected areas of West Nawalparasi and the mining region of Palpa. Additionally, 562,500 shares worth Rs 56.25 million were allocated to Nepalis working abroad.
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Palpa Cement Industries Limited received approval from the Nepal Securities Board to issue shares worth Rs 750 million, representing 20 percent of its total paid-up capital of Rs 3.75 billion.
For the IPO, Infomerics Credit Rating Nepal assigned an IRN BB+ rating, indicating a moderate risk in the company’s ability to meet financial obligations.
In the Fiscal Year 2081/82, the company reported earnings per share (EPS) of Rs 3.25 and a net worth per share of Rs 135.74.
The company’s chairman, Rajeshkumar Agrawal, holds 36.12 percent of shares, while Vishnukumar Agrawal also owns 36.12 percent.
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