IPO for General Public: Sopan Pharmaceuticals Limited to Issue 34,74,900 Units IPO Shares from Baishakh 02

Sopan Pharmaceuticals Limited will open its Initial Public Offering (IPO) to the general public on 2nd Baishakh, 2083. The company is issuing 34,74,900 unit shares at a par value of Rs. 100 per units. The early closing date for the IPO is the 6th Baishakh, 2083, but if the issue is not fully subscribed by then, the deadline will be extended to the 16th Baishakh, 2083.

The issued capital of the company is Rs. 1.71 Arba. Of this, 25%, i.e., 42,90,000 unit shares, will be issued to the public. Of this general public issue, 10% of 42,90,000, a total of 4,29,000 unit shares, were allotted for the Nepalese citizens working abroad. 4%, i.e., 1,71,600 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 2.14,500 units, have been reserved for mutual funds. The remaining 34,74,900 units are for the general public and opened from the mentioned date above.

NMB Capital Limited has been appointed the issue manager for the public offering. Applications could be placed for a minimum of 10 units and a maximum of 11,000 units.

CARE Ratings Nepal Limited (CRNL) has upgraded the issuer rating of Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), indicating a high risk of default. The long-term bank facility rating was also revised to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 was reaffirmed.

Sopan Pharmaceuticals Limited (SPL), a public company incorporated in 2009 and promoted by both institutional and individual stakeholders, manufactures generic and cephalosporin drugs at its Lalitpur facility in Nepal, holding licenses for 139 types of drugs for production and 70 types for marketing.

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