Shreenagar Agritech Industries Limited IPO Allotment Concludes: Lucky 2,51,049 Applicants Allotted 10 Units Each via Lottery System

Shreenagar Agritech Industries Limited's IPO allotment was concluded today at the premises of the issue manager, Nabil Investment Banking Limited, Central Plaza Narayanchaur, Naxal, Kathmandu.

The company had issued 25,10,493 units as an Initial Public Offering (IPO) to the general public from (26th Ashwin, 2082 to 29th Ashwin, 2082).

The issued capital of the company is Rs. 1.63 Arba. Of this, 20%, i.e., 32,62,500 unit shares, were issued to the public. Out of the total issue capital, 1%, which amounts to 1,63,125 unit shares worth Rs. 1.63 Crores, were already allotted to the project-affected locals of Rupandehi and Palpa districts. The remaining 19% of the issued capital, i.e., 30,99,375 unit shares, are for the general public. Of this general public issue, 10% of 3,09,938 unit shares were already allotted to Nepalese citizens working abroad. Of the general public issue, 4%, i.e., 1,23,975 units, were set aside for the company's employees, and 5% of the total offered shares, i.e., 1,54,969 units, were for the mutual funds. The remaining 25,10,493 units were for the general public.

The issue received a total of 18,69,330 valid applications for 2,02,50,510 units. Meanwhile, 26,636 applications for 3,17,700 units were disqualified.

As per the allotment module, 2,51,049 applicants were allotted 10 units each via lottery, and 3 applicants received 1 unit each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Nabil Investment Banking Limited.

ICRA Nepal Limited has upgraded the issuer rating of Shreenagar Agritech Industries Limited from [ICRANP-IR] B- to [ICRANP-IR] B. Entities with this rating are considered to have a high risk of defaulting on financial obligations. The rating reflects the general creditworthiness of the issuer and is not specific to any particular debt instrument. The rating scale ranges from [ICRANP-IR] AA to [ICRANP-IR] C, with plus (+) and minus (-) signs indicating comparative positioning within a category. A B+ rating is one notch higher than B, while B- is one notch lower.

Shreenagar Agritech Industries Limited (SAI), established in 2004 and converted into a public company in 2023, produces poultry, cattle, and fish feed under the brands ‘Sunaulo’ and ‘Himdana.’ With an annual capacity of 135,780 metric tonnes at its Rupandehi plant, SAI has also expanded into poultry and meat processing. Major promoters include Satish Chandra Shrestha (34%), Chandra Pankaj Developers (12%), Shikhar Insurance (8%), Citizen Life Insurance (4%), and around 830 other investors holding 42%.