Time Pharmaceuticals Holds Roadshow for Institutional Investors Ahead of Book Building IPO

Time Pharmaceuticals Limited has conducted a roadshow in Kathmandu for qualified institutional investors (QIIs) as part of its book-building IPO process, with more than 145 investor representatives participating.

The company plans to issue 10,86,500 shares worth Rs 10,86,50,000, equivalent to 20.5% of its issued capital, with 40% allocated to institutional investors and the remaining shares to the general public.

The IPO process is being managed by Nabil Investment Banking Limited under the book-building guidelines, with sealed bids from institutional investors to be accepted from Ashadh 22 to 26, and opened on Ashadh 29.

Established nearly 29 years ago, Time Pharmaceuticals has grown from producing eight medicines with 25 employees to manufacturing over 200 pharmaceutical products with a workforce of more than 350 employees.

The company has set an average share valuation of Rs 666.78, while proposing a base price of Rs 600 per share for institutional investors. It also announced that it has begun Nepal's first clinical trial in the pharmaceutical sector, with results expected soon.