Sagar Distillery Opens IPO for Nepalis Working Abroad, Applications Start Today

Sagar Distillery Limited has opened its Initial Public Offering (IPO) today for Nepalis working abroad. The company had earlier received approval to issue 1,452,000 shares worth Rs. 145.2 million, representing 20% of its issued capital of Rs. 726 million.

Out of this, 10% — equivalent to 145,200 shares at a par value of Rs. 100 each, worth Rs. 14.52 million — has been allocated for Nepalis who have obtained labor approval from the Government of Nepal and are currently employed abroad.

The deadline for applications is August 17. If the issue is not fully subscribed within this period, the deadline will be extended until August 27. Eligible applicants can apply for a minimum of 10 shares and a maximum of 7,000 shares.

Infomerics Credit Rating Nepal has assigned the company an “IRN Single B Plus” issuer rating, indicating a high risk of default in meeting financial obligations on time.

Muktinath Capital Limited is the issue manager for the IPO. Nepalis working abroad can apply through the C-ASBA system via banks and financial institutions participating in ASBA services, after obtaining approval from the Nepal Securities Board.