Srinagar Agritech Industries Launches First Phase of IPO

Srinagar Agritech Industries Limited has opened the first phase of its Initial Public Offering (IPO) from today (Bhadra 11). The IPO is targeted at locals from the industry-affected areas and Nepali citizens working abroad.

As per the approval granted by the Securities Board of Nepal (SEBON), the company will issue 3,262,500 ordinary shares worth NPR 326.25 million, which is 20% of its issued capital of NPR 1.63 billion.

Out of this, 1% (163,125 shares) have been allocated for locals of the affected areas, while 10% (309,938 shares) are reserved for Nepalis working abroad. Locals from Rupandehi and Palpa districts will be eligible to apply.

Applications can be submitted through Nabil Bank’s Tansen (Palpa) and Farshatikar (Rupandehi) branches, NMB Bank’s Tansen and Farshatikar branches, and Global IME Bank’s Tansen (Palpa) branch.

Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares. Nepalis working abroad must apply between Bhadra 15 and Bhadra 25, while locals from affected areas can apply from Bhadra 25 to Ashoj 9.

The issue and sales manager for this IPO is Nabil Investment Banking Limited.