IPO Issue of Sagar Distillery Limited Closing Today; Oversubscribed 19.60 Times So Far

Sagar Distillery Limited is closing the issue of 11,90,640 units of IPO shares at a par value of Rs 100 from today, the 5th Ashwin, 2082. The issue was opened for the general public on 30th Bhadra, 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, which will be closed from today.

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.

According to CDSC, 20,60,524 applicants have applied for 2,33,42,840 units. Thus, the issue has been oversubscribed 19.60 times.

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%).

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