KATHMANDU, March 13: The initial public offering (IPO) of Palpa Cement Industries Limited has been allotted, with around 450,000 applicants receiving shares.
According to Nabil Investment Banking, the issue manager, the allotment was completed on Friday. Each successful applicant received 10 shares.
The IPO had received applications from 2.413 million investors, of which 2.376 million applications were approved, the issue manager said.
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As the issue was heavily oversubscribed, about 1.963 million applicants did not receive any shares.
Investors can check the IPO results through the Mero Share platform or the CDSC website.
Palpa Cement had issued 4.5 million shares worth Rs 450 million to the general public.
For the IPO rating, Infomerics Credit Rating Nepal assigned the company a IRN Double B Plus (IRN BB+) rating, indicating moderate risk in the company’s ability to meet its financial obligations.
In the fiscal year 2024/25, the company reported earnings per share (EPS) of Rs 3.25 and a net worth per share of Rs 135.74.
The company is chaired by Rajesh Kumar Agrawal, who holds 36.12 percent of the shares. Vishnu Kumar Agrawal also owns 36.12 percent of the company’s shares.
