SY Panel Nepal Limited Closing IPO Shares to Project-Affected Locals of Chitwan From Today

SY Panel Nepal Limited is closing the issue of 2,61,627 units of Initial Public Offering (IPO) shares for project-affected locals of Chitwan District today, 21st Ashwin, 2082. The IPO had opened on 7th Ashwin, 2082.

The issued capital of the company is Rs. 1.30 Arba. Of this, 40%, i.e., 5,232,548 unit shares, will be issued to the public. Of the total issue capital, 2%, which amounts to 2,61,627 unit shares worth Rs. 2.61 Crores, will be allocated to project-affected locals of Chitwan district. The remaining 38% of the issued capital, i.e., 49,70,920 unit shares, will be offered to the general public later.

Of this general public issue, 10%, a total of 4,97,092 unit shares, were allocated for Nepalese citizens working abroad.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 50,000 units.

Prabhu Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has reaffirmed SY Panel Nepal Limited’s (SYPNL) issuer rating at [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating Double B), reflecting a moderate risk of default in meeting timely financial obligations.

SY Panel Nepal Limited (SYPNL), established in July 2017, produces expanded polystyrene (EPS) and polyurethane foam (PUFF) sandwich panels, UPVC windows, steel doors, and EPS materials, widely used in prefabricated home construction. It is a subsidiary of South Korea-based SY Co. Limited, which holds approximately 63% of the shares, with the remaining stake primarily owned by Korean nationals affiliated with SY Co. Limited. SYPNL’s manufacturing facility is located in Ratnanagar, Chitwan, and the company operates across Nepal through its network of 62 dealers.