Everest Colour Limited has opened its Initial Public Offering (IPO) to the general public from today, offering 655,700 ordinary shares at a face value of Rs. 100 per share.
The IPO will remain open until Jestha 27, 2083, with a provision to extend the issue period until Ashad 5, 2083 if the issue is not fully subscribed within the initial deadline.
The company's total issued capital stands at Rs. 300 million, of which 26.33%, or 790,000 shares, are being offered to the public. Prior to the public issue, 79,000 shares were allocated to Nepali citizens working abroad.
From the total public offering, 15,800 shares have been reserved for company employees, while 39,500 shares have been allocated to mutual funds. The remaining 655,700 shares are now available for the general public.
Muktinath Capital Limited has been appointed as the issue manager for the IPO. Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares.
According to CARE Ratings Nepal Limited, the company's issuer rating has been upgraded to CARE-NP BB (Is) from CARE-NP BB- (Is). The rating indicates a moderate risk of default regarding the timely servicing of financial obligations.
Established in 2011 as a private company and converted into a public limited company in June 2024, Everest Colour Limited is engaged in the manufacturing and sale of a wide range of paint products, including interior and exterior emulsion paints, enamel paints, primers, acrylic distempers, cement paints, floor coatings, aluminium paints, gold paints, and industrial paints.
The company's manufacturing facility is located in Tungara-3, Chitwan, and it has been operating in Nepal's paint industry for more than a decade.
IPO Details
| Particulars | Details |
|---|---|
| Company | Everest Colour Limited |
| IPO Shares for General Public | 655,700 Units |
| Face Value | Rs. 100 per Share |
| Total Public Issue | 790,000 Shares |
| Issued Capital | Rs. 300 Million |
| Shares Reserved for Foreign-Employed Nepalis | 79,000 Units |
| Shares Reserved for Employees | 15,800 Units |
| Shares Reserved for Mutual Funds | 39,500 Units |
| Issue Manager | Muktinath Capital Limited |
| Minimum Application | 10 Shares |
| Maximum Application | 20,000 Shares |
| Credit Rating | CARE-NP BB (Is) |
| Manufacturing Location | Chitwan |
The IPO marks Everest Colour Limited's entry into Nepal's capital market, providing investors with an opportunity to participate in one of the country's established paint manufacturing companies.
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