The IPO allotment of Sarvottam Paints Industries Limited (SPIL) has been completed today at the office of the issue and sales manager, Global IME Capital Limited, located in Naxal, Kathmandu.

The public offering attracted strong investor participation, with demand significantly exceeding the number of shares available for distribution.

Public Issue Details

Sarvottam Paints has an issued capital of Rs. 340 million, of which 25 percent, equivalent to 850,000 ordinary shares, was allocated for public issuance.

As per regulatory provisions, the public issue was divided into several categories:

85,000 units (10%) reserved for Nepali citizens working abroad
17,000 units (2%) reserved for company employees
42,500 units (5%) reserved for mutual funds
Remaining 705,500 units allocated to the general public

The allotment process for the public category was completed today.

Massive Oversubscription Recorded

Investor participation remained exceptionally high during the offering period.

According to allotment data:

2,850,025 valid applications were received
Demand totaled 30,527,540 units of shares
44,207 applications covering 505,640 units were disqualified

Due to overwhelming demand, the allotment was conducted through a lottery system.

As a result, only 70,550 applicants received an allocation, with each successful applicant receiving 10 units of shares.

IPO Results Available Through Multiple Platforms

Applicants can check their allotment status through:

CDSC IPO Result Portal
MeroShare
Global IME Capital Limited

Investors who participated in the offering can verify results through any of these official channels.

Credit Rating Upgraded Ahead of Public Market Entry

Prior to the allotment, CARE Ratings Nepal Limited (CRNL) upgraded the company’s issuer rating to:

CARE-NP BB (Is) from CARE-NP BB- (Is)

The upgraded rating indicates that the company carries a moderate level of default risk in meeting its financial obligations on time within Nepal.

About Sarvottam Paints Industries

Sarvottam Paints Industries Limited was originally incorporated as a private limited company on January 23, 2015, and was later converted into a public limited company on July 14, 2022.

The company manufactures and sells a broad range of paint and construction-related products, including:

Decorative interior and exterior emulsion paints
Primers and enamel paints
Water-based primers
Distemper and waterproofing liquids
Oil-based primers
Gold paints
Cement paints
Thermoplastic road marking paints
Wall putty

Its manufacturing facility is located in Godawari–02, Attariya, Kailali, while its sales depot office operates from Madhyapur Thimi–02, Bhaktapur.

With the IPO allotment now completed, investor focus is expected to shift toward the company’s future listing and secondary market performance.

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