Barun Investments to Issue IPO Worth Rs. 24.75 Crores | Application Submitted to SEBON
January 28, 2024 | Investopaper
Barun Investments Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Poush 25, 2080 BS seeking permission to issue the shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company plans to issue 24.75 lakh shares to the public. At a par value of Rs. 100, the public issue amounts to Rs. 24.75 crores.
The company has already appointed Global IME Capital Limited as the issue and sales manager. The agreement was signed by Mr. Paras Mani Dhakal, Chief Executive Officer of Global IME Capital and Mr. Shiva Prasad Ghimire, Chairman of Barun Investments Limited.
In the first phase, the company will issue shares to the foreign employed Nepalis. Likewise, after the first phase, it will sell shares to the general public, including the mutual fund schemes and the employees of the company, in the second phase of the IPO.
The company has already approved the agenda of floating IPO at a premium price from its annual general meeting.
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