Sopan Pharmaceuticals Limited has commenced its Initial Public Offering (IPO) for the public from 3rd Baishakh, 2083, distributing 34,74,900 shares at a nominal value of Rs. 100 each. The IPO was originally intended to conclude on 8th Baishakh, 2083, with an option to prolong the deadline until 17th Baishakh, 2083, should it experience undersubscription.
The company’s total issued capital stands at Rs. 1.71 Arba. Out of this, 25%, which equates to 42,90,000 unit shares, will be made available to the public. From this general issuance, 10% of 42,90,000 units, amounting to 4,29,000 units, has been designated for Nepalese nationals employed abroad. Moreover, 4%, or 1,71,600 units, are reserved for the company’s workforce, and 5% of the overall shares offered, translating to 2,14,500 units, have been allocated for mutual funds. The balance of 34,74,900 units is aimed at the general populace and is available from today.
NMB Capital Limited has been appointed as the offering manager for this public issue. Applications can be submitted for a minimum of 10 units and a maximum of 11,000 units.
CARE Ratings Nepal Limited (CRNL) has elevated the issuer rating of Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), reflecting a significant risk of default. The long-term bank facility rating has also been modified to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 has been confirmed.
Sopan Pharmaceuticals Limited (SPL), a publicly traded company established in 2009 and supported by both institutional and individual investors, produces generic and cephalosporin medications at its facility in Lalitpur, Nepal, possessing licenses for 139 types of drugs for manufacturing and 70 for marketing.
