SY Panel Nepal Limited Opens IPO for General Public from Today

Kathmandu, November 5 (Kartik 19) – SY Panel Nepal Limited has opened the Initial Public Offering (IPO) for the general public starting today. Earlier, the company had already issued and allotted IPO shares to locals of the industry-affected areas and Nepali citizens working abroad.

The company’s issued capital is NPR 1.3089 billion, out of which 40% (NPR 523.25 million) equivalent to 5,232,548 shares has been approved for public issuance. In the first phase, 261,629 shares were issued to locals of the affected area and 497,092 shares to Nepali citizens working abroad, both of which have already been allotted.

Now, in the second phase, the company is issuing 4,076,156 shares worth NPR 407.61 million at a par value of NPR 100 per share for general investors. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares. The IPO issue will close as early as Kartik 23 (November 8) and no later than Mangsir 3 (November 18), depending on the subscription status.

According to the credit rating assigned by ICRA Nepal Limited, the company has received a rating of ICRANP IR BB (Double B), indicating a moderate risk level regarding its ability to meet financial obligations.

Prabhu Capital Limited is the issue and sales manager for this IPO. Interested investors can apply through the C-ASBA system from all C-ASBA-approved banks and financial institutions and their designated branches authorized by the Securities Board of Nepal (SEBON).