The allocation of shares for the IPO of Om Megashree Pharmaceuticals Limited is set for this Tuesday, specifically on the 12th of Chaitra, 2081. This allotment event will take place at the offices of the issue manager, Prabhu Capital Limited, located in Lazimpat.
The company has an authorized capital of Rs. 60 Crores, with 30% of it, equating to 1,800,000 unit shares valued at Rs. 18 Crores, being designated for the general public. Of this public offering, 10%, or 180,000 units, have been reserved for Nepali nationals working overseas. From the total of 1,800,000 units, 90,000 (which is 5% of the total) have been allocated to mutual funds, and 54,000 (or 3% of the total) units have been earmarked for the company’s staff. The leftover 1,476,000 units were made available to the public at a nominal value of Rs. 100.
As per the Central Depository System and Clearing Limited (CDSC), 1,988,836 applicants have submitted requests for 23,691,510 units, amounting to Rs. 2.36 Arba, by the closing deadline.
Analyzing the figures, it is clear that only 147,600 fortunate applicants will acquire stake in the company.
CARE Ratings Nepal Limited (CRNL) has reiterated the ‘CARE-NP BB- (Is)’ rating for Om Megashree Pharmaceuticals Limited (OMPL), signaling a moderate risk of default concerning timely financial commitments. Furthermore, CRNL has maintained the ‘CARE-NP BB-’ rating regarding OMPL’s long-term banking arrangements and the ‘CARE-NP A4’ rating for its short-term banking options. Om Megashree Pharmaceuticals Limited was founded on June 12, 2016, as a public limited company in Nepal, backed by a consortium of institutional and private investors. The firm produces pharmaceutical products at its facility in Chitwan and commenced partial operations on February 19, 2024.
