Palpa Cements Industries Limited Concludes IPO Allotment for Nepalese Citizens Working Abroad; 56,250 Lucky Applicants Receive 10 Units each

The IPO allotment for Nepalese citizens working abroad by Palpa Cements Industries Limited was concluded today, 9th Magh, 2082.

The issued capital of the company is Rs. 3.75 Arba. Of this, 20%, i.e., 75,00,000 unit shares, will be issued to the public. Out of the total issue capital, 5%, which amounts to 18,75,000 unit shares worth Rs. 18.75 Crores, will be allocated to project-affected locals of West Nawalparasi (Former Nawalparasi District). The remaining 15% of the issued capital, i.e., 56,25,000 unit shares, will be offered to the general public at a later date. Of this general public issue, 10% of 56,25,000, a total of 5,62,500 unit shares, have been set aside for Nepalese citizens working abroad, and the issue will close from today.

The issue received a total of 75,162 valid applications for 13,01,160 units. Meanwhile, 20 applications for 230 units were disqualified.

As per the allotment module, 56,250 applicants were allotted 10 units each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Nabil Investment Banking Limited.

Nabil Investment Banking Limited was appointed as the issue manager. The minimum application quantity for Nepalese citizens working abroad was 10 units, and the maximum was 1,00,000 units.

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.