IPO of Shivam Cement receives more than 4,500 applicants from the general category; applicants applied for almost 6 Lakh units

Shivam Cement Limited is issuing its 5,79,640 units IPO shares at Rs 200 per unit to the project-affected locals of Makawanpur district and 41,20,000 units IPO shares at Rs 300 per unit to the general public from today (6th Falgun, 2075).

The company is issuing 2% shares i.e. 8.80 lakh unit shares to the project affected locals and 10% i.e. 44 lakh unit shares to the general public. Out of the total issuance, 2,20,000 units had been separated for the Employees of associated organizations and another 2,20,000 units for Mutual Funds.

As per the issue managers, the issue collected applications from 4,581 applicants who applied for 585,890 units from the general category till today. Similarly, only 11 application were received for 950 units from the locals of the project affected area. However, this is not the final data in case of issue for locals.

The application can be placed from the financial institutions providing C-ASBA facility or through Meroshare. Applications can be placed for minimum 50 units and maximum 44 lakh units for public issue and minimum 50 units and maximum 5.79 lakh units for the project affected locals.

ICRA Nepal had assigned Grade 3+ rating to the IPO of Shivam Cements Limited indicating Average Fundamentals.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance. Whereas, NIBL Ace Capital Limited, Global IME Capital and CBIL Capital are the underwriters of this issue. 

After the IPO, the paid-up capital of the company will reach Rs 4.40 arba.