Sagar Distillery to Float 792,000 Shares in IPO
November 21, 2024 | Investopaper
Sagar Distillery Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board of Nepal (SEBON) on Ashwin 21, 2081 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
If approved by SEBON, the company is planning to float 792,000 unit shares at the par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 7.92 crores.
The company has appointed Muktinath Capital Limited as issue and sales manager. The agreement for public offering was inked by Mr. Sandip Jalan, chairman of Sagar Distillery and Mr. Kabindra Dhoj Joshi, CEO of Muktinath Capital 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.
About Sagar Distillery Limited
Sagar Distillery Limited was established on 2069 BS to produce and sell quality liquor in Nepal. The company’s factory is located in Devchuli, Nawalpur.
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