IPO Proposal of Palpa Cement Industries Limited Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Palpa Cement Industries Limited (PCIPL). The approval was issued on Poush 09, 2082.

According to the approved proposal, the company will issue a total of 7,500,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

Nabil Investment Banking Limited has been appointed the issue manager for the public offering.

ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBB (pronounced ICRA NP L double B) for the long-term loan limits and the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) for the short-term loan limits of Palpa Cement Industries Limited (PCIL or the company). Additionally, the ratings have been removed from Watch with Negative Implications.

Palpa Cement Industries Limited (PCIL), established in 2009, is a greenfield cement manufacturing company that began producing clinker in April 2019 and cement in January 2020. Located in Sunuwal, Nawalparasi, with mines in Rahawas, Palpa, the plant has an annual production capacity of 0.59 million metric tonnes of clinker and 0.73 million metric tonnes of cement, utilizing vertical rolling mill (VRM) technology. A part of the RMC Group, a prominent business house in Nepal, PCIL operates from its registered office in Thapathali, Kathmandu.