IPO Proposal of Shreenagar Agritech Industries Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Shreenagar Agritech Industries Limited. The approval was issued on 13th Shrawan, 2082.

According to the approved proposal, the company will issue a total of 3,262,500 shares to the general public, which accounts for 20% of its total issued capital. 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 Limited has upgraded the issuer rating of Shreenagar Agritech Industries Limited from [ICRANP-IR] B- to [ICRANP-IR] B. Entities with this rating are considered to have a high risk of defaulting on financial obligations. The rating reflects the general creditworthiness of the issuer and is not specific to any particular debt instrument. The rating scale ranges from [ICRANP-IR] AA to [ICRANP-IR] C, with plus (+) and minus (-) signs indicating comparative positioning within a category. A B+ rating is one notch higher than B, while B- is one notch lower.