Investors interested in purchasing shares of Everest Color Limited have only until today, Jestha 27, to submit applications for the company's Initial Public Offering (IPO). The public issue, which opened on Jestha 22, marks the second phase of the company's share offering after completing the allocation of shares reserved for Nepali citizens working abroad.
Everest Color received approval to issue 790,000 ordinary shares worth NPR 79 million, representing 26.33% of its issued capital of NPR 300 million. As part of the allocation structure, the company had already distributed 79,000 shares reserved for Nepali workers employed overseas.
In addition, 39,500 shares were allocated to mutual funds, while 15,800 shares were reserved for company employees. Following these allocations, the company has offered the remaining 655,700 shares to the general public at a face value of NPR 100 per share, amounting to NPR 65.57 million.
Under the issue terms, investors must apply for a minimum of 10 shares, while the maximum application limit has been set at 10,000 shares.
The IPO's issue and sales manager is Muktinath Capital Limited. Eligible investors can submit applications through all ASBA-approved banks and financial institutions, their designated branches, or through the C-ASBA system available on the Mero Share platform.
From a credit perspective, CARE Ratings Nepal has assigned Everest Color an 'CARE-NP BB' Issuer Rating. This rating indicates a moderate level of risk regarding the company's ability to meet its financial obligations and suggests that while the company has adequate capacity to honor commitments, adverse business or economic conditions could affect its performance.
With the application period ending today, investors who have not yet applied must complete their submissions before the deadline to participate in the share allotment process. As with all IPO investments, applicants are encouraged to review the company's financial position, business prospects, and associated risks before making investment decisions.
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