Sarbottam Cement’s Initial Public Offering (IPO), introduced through the book-building method, is set to be distributed on Friday. Global IME Capital, the appointed sales manager, has announced that the IPO distribution will take place through a formal program on the mentioned day. Nalina Shrestha, the Deputy CEO of Capital, shared that applicants will be allocated shares starting from a minimum of 50 shares through a round-robin process.
The IPO for Sarbottam Cement has garnered overwhelming interest, with over 1 million applicants. Approximately NPR 20 billion has been temporarily reserved in the applicants’ bank accounts. The company had initially called for applications for a total of 2,776,076 shares.
A total of 55,521 individuals will be beneficiaries of the company’s IPO. Following the book-building guidelines, applicants were allowed to request a minimum of 50 shares, and during the allotment process, a minimum of 50 shares will be granted. The company had set the IPO price for the general public at NPR 360.90 per share, determined through the book-building method.
