Palpa Cements Industries Limited IPO Allotment Concludes: Lucky 4,50,000 Applicants Allotted 10 Units Each via Lottery System

Palpa Cements Industries Limited's IPO allotment was concluded today at the premises of the issue manager, Nabil Investment Banking Limited, Central Plaza Narayanchaur, Naxal, Kathmandu.

The company had issued 45,00,000 units as an Initial Public Offering (IPO) to the general public from (12th Falgun, 2082 to 15th Falgun, 2082).

The company's issued capital is Rs. 3.75 Arba. Of this, 20%, i.e., 75,00,000 unit shares, were issued to the public. Out of the total issue capital, 5%, which amounts to 18,75,000 unit shares worth Rs. 18.75 Crores, were allotted to project-affected locals of West Nawalparasi (Former Nawalparasi District). The remaining 15% of the issued capital, i.e., 56,25,000 unit shares, are for the general public. Of this general public issue, 10% of 56,25,000, a total of 5,62,500 unit shares, were already allotted for the Nepalese citizens working abroad. Of the general public issue, 5%, i.e., 2,81,250 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 2,81,250 units, have been reserved for mutual funds. The remaining 45,00,000 units were issued for the general public.

The issue received a total of 23,76,705 valid applications for 2,58,62,420 units. Meanwhile, 36,812 applications for 4,48,550 units were disqualified.

As per the allotment results, 4,50,000 applicants were allotted 10 units each through a lottery system.

Allotment Module:

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

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.