The allocation of IPO shares for Nepalese nationals employed overseas by Sopan Pharmaceuticals Limited was finalized today, the 17th of Chaitra, 2082.
The company’s authorized capital stands at Rs. 1.71 Arba. Of this total, 25%, equating to 42,90,000 unit shares, will be made available to the public. From this public offering, 10% of 42,90,000, amounting to 4,29,000 unit shares, has been reserved for Nepalese citizens working abroad. Additionally, 4%, or 1,71,600 units, have been designated for the company’s staff, and 5% of the total shares on offer, translating to 2,14,500 units, have been earmarked for mutual funds. The leftover 34,74,900 units will be distributed to the general populace.
The issue saw a total of 82,979 valid applications submitted for 1,167,390 units. At the same time, 28 applications for 320 units were deemed ineligible.
According to the allotment protocol, 42,900 applicants were granted 10 units each.
Allotment Details:
The IPO results can be viewed through CDSC IPO Result, MeroShare, and NMB Capital Limited.
NMB Capital Limited was designated as the issue manager. The minimum application size for Nepalese citizens abroad was 10 units, with a cap of 11,000 units.
CARE Ratings Nepal Limited (CRNL) has raised the issuer rating of Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), which reflects a significant risk of default. The long-term bank facility rating has also been updated to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 remains unchanged.
Sopan Pharmaceuticals Limited (SPL), a publicly listed company established in 2009 and backed by both institutional and individual investors, produces generic and cephalosporin medications at its facility in Lalitpur, Nepal, holding permits for the manufacture of 139 varieties of drugs and marketing authorization for 70 types.
