Palpa Cement Industries Limited Opens IPO Today

Palpa Cement Industries Limited is set to open its IPO from today (Poush 25). The company is issuing shares primarily for the local residents of the industrially affected areas and Nepali nationals working abroad. The company has received approval to issue 7.5 million shares, which represents 20% of its capital of NPR 3.75 billion. Out of this, 5% or shares worth NPR 187.5 million (18,750,000 shares) will be allocated for local residents of industrially affected areas in West Nawalparasi (formerly Nawalparasi district) and Palpa, which have mining areas.

Additionally, 10% of the shares reserved for the general public, totaling NPR 56.25 million (562,500 shares) at a nominal value of NPR 100 per share, will be issued to Nepali nationals employed abroad, who have received labor approval from the relevant government bodies.

The minimum application for the IPO will be for 10 shares, and the maximum will be for 100,000 shares. The application period for local residents in the affected areas will close by Magh 9 at the earliest and by Magh 25 at the latest. For Nepali nationals working abroad, the deadline for application will be Poush 30 or Magh 9 at the latest.