Sopan Pharmaceuticals Limited is set to launch its Initial Public Offering (IPO) for the public on 2nd Baishakh, 2083. The firm will be offering 34,74,900 unit shares, each with a face value of Rs. 100. The IPO will close on the 6th Baishakh, 2083; however, if the shares are not fully subscribed by that date, the closing date will be postponed to the 16th Baishakh, 2083.
The total capital issued by the company stands at Rs. 1.71 Arba. Out of this amount, 25%, translating to 42,90,000 unit shares, is allocated for public sale. Among this public offering, 10% of the total, equating to 4,29,000 unit shares, will be reserved for Nepali citizens residing abroad. An allocation of 4%, or 1,71,600 units, is earmarked for the employees of the company, and 5% of the total shares available, which is 2.14,500 units, is designated for mutual funds. The outstanding 34,74,900 units are available for the general public starting from the aforementioned date.
NMB Capital Limited has been appointed as the manager for this public offering. Investors can submit applications for a minimum of 10 units and a maximum of 11,000 units.
CARE Ratings Nepal Limited (CRNL) has upgraded the issuer rating for Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), indicating a heightened risk of default. The long-term bank facility rating has also been adjusted to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 remains unchanged.
Established in 2009, Sopan Pharmaceuticals Limited (SPL) is a public entity promoted by both institutional and private stakeholders, producing generic and cephalosporin medications at its facility in Lalitpur, Nepal. The company holds licenses to manufacture 139 varieties of drugs and market 70 types.
