Everest Colour Limited has officially opened its Initial Public Offering (IPO) for the general public from Jestha 22, 2083. The company is offering 655,700 ordinary shares at a face value of Rs. 100 per share after completing allocations for foreign-employed Nepalis, mutual funds, and company employees. The IPO presents investors with an opportunity to participate in one of Nepal’s established paint manufacturing companies that has been operating for more than 14 years.
The company has received approval to issue a total of 790,000 shares worth Rs. 79 million, representing 26.33% of its issued capital of Rs. 300 million. Prior to the public issue, 79,000 shares were allocated to Nepali citizens working abroad, 39,500 shares were reserved for mutual funds, and 15,800 shares were allocated to employees. The remaining 655,700 shares are now available for the general public.
Everest Colour has positioned itself as a growing domestic manufacturing company in Nepal’s paint industry. With increasing infrastructure development, urbanization, and construction activities across the country, the demand for paints and coatings is expected to remain strong in the coming years. The company aims to capitalize on this market opportunity through capacity expansion, product diversification, and wider market penetration.
The IPO proceeds are expected to support the company’s long-term growth plans. Management intends to utilize the capital raised to strengthen its production capabilities, expand infrastructure, improve operational efficiency, and enhance its competitive position in Nepal’s paint market. The company believes these investments will help meet rising demand while supporting future business growth.
As Nepal continues to invest in housing, commercial buildings, roads, and large-scale infrastructure projects, the paint industry is expected to benefit from sustained demand. Everest Colour plans to leverage this favorable market environment by improving production capacity, maintaining product quality, and expanding its distribution network throughout the country.
IPO Details
- Company: Everest Colour Limited
- Issue Size: 655,700 shares
- Face Value: Rs. 100 per share
- Issue Manager: Muktinath Capital Limited
- Underwriter: Laxmi Sunrise Capital Limited
- Opening Date: Jestha 22, 2083
- Closing Date: Jestha 27, 2083
- Extended Closing (if undersubscribed): Ashad 5, 2083
How to Apply
Investors can apply through all C-ASBA approved banks and financial institutions authorized by the Securities Board of Nepal (SEBON). Applications can also be submitted online through the Meroshare web platform and mobile application.
Application Limits
- Minimum Application: 10 shares
- Maximum Application: 10,000 shares
If the issue is oversubscribed, shares will be allotted through a lottery system in accordance with prevailing securities issuance regulations. Based on the issue size, approximately 65,570 applicants can receive 10 shares each.
Credit Rating
CARE Ratings Nepal has assigned Everest Colour Limited a CARE-NP BB (Issuer Rating). This rating indicates a moderate risk regarding the company's ability to meet its financial obligations on time.
Company Overview
Everest Colour Limited was originally incorporated as Everest Colour Private Limited on May 5, 2011, and was converted into a public limited company on June 24, 2024.
The company's registered office is located in Kaushaltar, Madhyapur Thimi Municipality, Bhaktapur. Its manufacturing facility is situated at Tungara-3, Khairahani Municipality, Chitwan, while its branch depot operates in Jamungachhi, Biratnagar, Morang.
Established through the collective efforts of Nepali entrepreneurs, Everest Colour has built a reputation as a domestic paint manufacturer offering products comparable to multinational brands. The company produces a wide range of products including:
- Exterior and interior emulsion paints
- Distempers
- Primers
- Wood and metal coatings
- Industrial paints
- Specialty paints
- Artistic paints
- Premium and economy paint brands
The company offers various premium paint products with warranties ranging from 7 to 12 years.
Purpose of the IPO
The IPO has been issued to comply with the requirement of allocating 26.33% of the company's issued capital to the public and to raise additional capital for business expansion, operational growth, and future development plans.
Where Will the IPO Money Be Used?
The company plans to utilize the proceeds from the IPO for:
| Purpose | Estimated Amount (Rs.) |
|---|---|
| Land and building for head office | 20,000,000 |
| Land and building for branch offices | 15,500,000 |
| Machinery purchase for production expansion | 6,000,000 |
| Furniture for head and branch offices | 1,000,000 |
| Computers, laptops, printers, CCTV, routers, etc. | 3,500,000 |
| Electric car for sales operations | 3,200,000 |
| Truck for factory transportation | 6,000,000 |
| Mahindra Bolero vehicles (2 units) | 6,550,000 |
| Motorcycles for sales and marketing staff (6 units) | 2,000,000 |
| Scooters for office use (2 units) | 500,000 |
| Market expansion, product diversification, and raw materials | 18,741,000 |
| Total | 79,000,000 |
Financial Performance
As of Poush End, FY 2082/83 (Unaudited)
- Earnings Per Share (EPS): Rs. 8.37
- Net Worth Per Share: Rs. 118.40
- Retained Earnings: Rs. 9.04 million
FY 2081/82
- EPS: Rs. 9.60
- Net Worth Per Share: Rs. 113.97
- Retained Earnings: Rs. 34,217
Projected FY 2082/83
- Projected EPS: Rs. 5.82
- Projected Net Worth Per Share: Rs. 115.11
- Projected Retained Earnings: Rs. 14.48 million
Board Structure
The company's Articles of Association provide for a seven-member Board of Directors consisting of:
- Four directors from the promoter group
- Two directors representing public shareholders
- One independent director
Current board members include:
- Maheshwor Khanal – Chairman
- Saroj Luitel – Director
- Rojina Shrestha – Director
- Rajan Lal Shrestha – Director
- Kapil Dev Mahato – Independent Director
Future Plans and Strategy
Everest Colour plans to focus on strengthening its sales network, enhancing product quality, and increasing market penetration across Nepal. Rather than prioritizing short-term profit margins, the company intends to increase sales volume while improving procurement efficiency, resource management, and operational performance.
The company is committed to maintaining product quality and packaging standards above market expectations. It also plans to introduce advanced technologies and new paint products commonly available in international markets. With infrastructure development accelerating throughout Nepal, management expects paint demand to remain strong and intends to further expand production capacity to meet future market requirements.
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