Shaurya Cement Industries to Issue 1,59,81,500 Shares @ Rs. 264.51 per Share in IPO
January 9, 2024 | Investopaper
Shaurya Cement Industries Limited is planning to issue Initial Public Offering (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Poush 12, 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 sell 1,59,81,500 shares to the public. The IPO price is Rs. 264.51 per share (Rs. 100 is par value and Rs. 164.51 is the premium). Hence, the total pubilc issue amounts to Rs. 4.22 Arba.
The company has appointed Nabil Investment Banking Limited as issue and sales manager for the IPO. The agreement for public offering has already been inked between Shaurya Cement Industries and Nabil Investment Banking Limited on this regard.
In the first phase, the company will issue shares to the locals and 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 approved the agenda of floating IPO at a premium price from its first annual general meeting held on Chaitra 1, 2079 BS.
About Shaurya Cement Industries Limited
Shaurya Cement Industries Limited is a Cement Manufacturing Plant Located at Mirchaiya of Siraha district. It has the production capacity of 3,500 metric tons per day. The industry produces OPC, PPC and PSC cement.
The cement industry is established with the joint investment of Rs 15 billion by three big business houses of the country- Shankar Group, Ambe Group and C.K Golchha Family.
The industry is equipped with integrated technology plant from limestone mine to cement production. The limestone mine required for the cement industry is at Katari, Udaypur. The mine has limestone that lasts for about 50 years.
Shaurya Cement is one of the largest industry in Eastern Nepal. About 25 MW of electricity is required to run the industry, out of which 6 MW is generated internally.
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