Sopan Multiple Company to Float 29.15 Lakh Shares in IPO | Appoints NMB Capital as Issue Manager
May 2, 2024 | Investopaper
Sopan Multiple Company Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has appointed NMB Capital Limited as the issue and sales manager.
The agreement was signed by Mr. Deepesh Kumar Baidya, Chief Executive Officer of NMB Capital and Mr. Tara Prasad Pokharel, Chairman of Sopan Multiple Company Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by the regulatory body, the company plans to issue 29.15 lakh shares to the public. This is 20 percent of the total issued capital of the company. The company has plans to float the shares at a premium price.
At present, the company has a paid-up capital of Rs. 116.60 crores. After the IPO (if fully subscribed), the capital will increase to Rs. 145.75 crores.
Sopan Multiple Company Limited, a holding company mainly promoted by Mahato Group, has investment in various companies such as Kantipur Engineering College, Acme Engineering College, Sopan Pharmaceuticals, Molnia Power Limited, Mailung Khola Jalvidyut Company Limited, Upper Mailung Khola Jalvidyut Limited, Sopan Properties Company Limited.
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