September 22, 2022 | Investopaper
Sopan Pharmaceuticals 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. Suman Neupane, CEO of Sopan Pharmaceuticals 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 14 lakh shares to the public. This is 20 percent of the total issued capital of the company. At a par value of Rs. 100, the public issue amounts to Rs. 14 crores.
At present, the company has a paid-up capital of Rs. 56 crores. After the IPO (if fully subscribed), the capital will increase to Rs. 70 crores.
Sopan Pharmaceuticals Limited is a newly established pharmaceuticals company which formally inaugurated its first ever commercial batch production in the year 2078 BS.