Sagar Distillery Limited Opens IPO for Foreign Nepalese Immigrants From Today

Sagar Distillery Limited is opening the issue of an Initial Public Offering (IPO) of 1,45,200 units IPO Shares to Foreign Nepalese Employees from today, 28th Shrawan, 2082. The IPO for Foreign Nepalese Immigrants opened on 28th Shrawan and will close on 1st Bhadra, 2082, unless extended until 11th Bhadra in case of under-subscription.

The issued capital of the company is Rs. 72.60 Crores, of which 20%, i.e., 14,52,000 unit shares worth Rs. 14.52 Crores, will be issued later for the general public. Of this public issue, 10% of the shares, totaling 1,45,200 unit shares, have been allocated for Nepalese citizens working abroad, the issue of which will open from today.

Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 7,000 units.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. Entities with this rating are considered to carry a high risk of default in meeting their financial obligations on time.

Sagar Distillery Limited (SDL), established in 2014 and converted to a public limited company on May 21, 2023, specializes in blending and bottling high-quality liquors such as vodka, whiskey, and gin. With an annual production capacity of 5 million liters, SDL's products include Lalipop (various flavors), Royal Blue, Grey Wolf, Berries & Blues, and Nepse Bulls. The company is primarily promoted by Mr. Sandeep Jalan (17.48% shareholding), Mr. Ashutosh Khetan (19.08%), and Ms. Alka Goyal (15.10%).

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