SY Panel Nepal Limited is set to launch its Initial Public Offering (IPO) for the public on the 19th of Kartik, 2082. The firm is offering 40,76,156 unit shares at a face value of Rs. 100 per unit. The IPO will close early on the 23rd of Kartik, 2082, but if the subscription is not fully met by that date, the cut-off will be pushed to the 3rd of Mangsir, 2082.
The company’s issued capital stands at Rs. 1.30 Arba. Out of this total, 40%, or 5,232,548 unit shares, are designated for public issuance. Of the overall issued capital, 2%, amounting to 2,61,627 unit shares worth Rs. 2.61 Crores, has been allocated to locals impacted by projects in Chitwan district. The remaining 38% of the issued capital, which equates to 49,70,920 unit shares, is available to the general public. From this public allocation, 10%, totaling 4,97,092 unit shares, have been reserved for Nepalese citizens employed abroad.
Among the public offered shares, 3%, which is 1,49,127 units, have been specifically earmarked for the company’s employees, while 5% of the total shares offered, corresponding to 2,48,546 units, are allocated for mutual funds. The leftover 40,76,156 units are intended for the general public and will be available starting the 19th of Kartik.
Prabhu Capital Limited has been designated as the issue manager overseeing the IPO process. Interested parties may apply for a minimum of 10 units and a maximum of 50,000 units.
ICRA Nepal has reaffirmed SY Panel Nepal Limited’s (SYPNL) issuer rating at [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating Double B), indicating a moderate risk of default in fulfilling timely financial commitments.
Founded in July 2017, SY Panel Nepal Limited (SYPNL) specializes in the production of expanded polystyrene (EPS) and polyurethane foam (PUFF) sandwich panels, UPVC windows, steel doors, and EPS products, all of which are extensively utilized in prefabricated housing. The company operates as a subsidiary of SY Co. Limited, headquartered in South Korea, which owns approximately 63% of the shares, while the remainder is primarily held by Korean nationals associated with SY Co. Limited. SYPNL’s manufacturing facility is situated in Ratnanagar, Chitwan, and the company provides services throughout Nepal via a network comprising 62 dealers.
