Laxmi Technoplast to Issue IPO | Appoints Nepal SBI Merchant Banking as Issue Manager

January 30, 2024 | Investopaper

Laxmi Technoplast Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Nepal SBI Merchant Banking Limited as the issue and sales manager.

The agreement for public offering was signed between the company and Nepal SBI Merchant Banking Limited on this regard. Anjaninandan Maru, Managing Director of Laxmi Technoplast Limited and Lekhnath Pokharel, CEO of Nepal SBI Merchant Banking inked the agreement.

Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the company can issue the shares to the public.

The company plans to sell 14 lakh unit shares at a premium price over the par value of Rs. 100 in the public offering.