Kathmandu — Palpa Cement Industries Limited is set to issue its initial public offering (IPO) from Poush 10, targeting project-affected local residents and Nepalis employed abroad in the first phase.
The company received approval from the Securities and Exchange Board of Nepal (SEBON) on December 25 to issue a total of 7.5 million shares at a face value of Rs 100 per unit. Under the approved structure, 1.875 million shares have been allocated for project-affected locals, while 562,500 shares are reserved for Nepalis working overseas.
Residents of West Nawalparasi and Palpa districts, where the company’s mine and project are located, are eligible to apply under the project-affected category. Both project-affected locals and foreign-employed Nepalis can apply for a minimum of 10 shares and a maximum of 100,000 shares.
Applications from Nepalis working abroad can be submitted until May 30, while project-affected locals have time until Magh 9 to apply.
Nabil Investment Banking Limited has been appointed as the issue and sales manager. Project-affected locals can submit applications through designated branches of Nabil Bank, Prabhu Bank, and Siddhartha Bank in Palpa and Nawalparasi districts. Nepalis working abroad can apply through the C-ASBA system via ASBA-participating banks and financial institutions, after obtaining SEBON approval.
