Deadline Extended for 11,90,640 IPO Unit Shares of Sagar Distillery Limited

Sagar Distillery Limited has extended the deadline of its 11,90,640 unit IPO shares issue until 5th Ashwin, 2082. The issue opened on 30th Bhadra, 2082. The early closing date of this issue was today, 2nd Ashwin, 2082; however, due to undersubscription, the issue has been extended until 5th Ashwin, 2082.

The company's issued capital is Rs. 72.60 Crores. 20% will be issued to the public, i.e., 14,52,000 unit shares worth Rs. 14.52 crores. Of this public issue, 10% of the shares, totaling 1,45,200 unit shares, were already allotted to the Nepalese citizens working abroad.

Of the general public issue, 3%, i.e., 43,560 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 72,600 units, have been set aside for the mutual funds. The remaining 11,90,640 units are for the general public.

Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 10,000 units.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. Entities with this rating are considered to carry a high risk of default in meeting their financial obligations on time.

Sagar Distillery Limited (SDL), established in 2014 and converted to a public limited company on May 21, 2023, specializes in blending and bottling high-quality liquors such as vodka, whiskey, and gin. With an annual production capacity of 5 million liters, SDL's products include Lalipop (various flavors), Royal Blue, Grey Wolf, Berries & Blues, and Nepse Bulls. The company is primarily promoted by Mr. Sandeep Jalan (17.48% shareholding), Mr. Ashutosh Khetan (19.08%), and Ms. Alka Goyal (15.10%).

Extended Notice: