Sarbottam Cement IPO Shares Successfully Listed on NEPSE; What are the Opening Ranges?

Mon, Mar 18, 2024 4:56 PM on IPO/FPO News, Share Listed, Latest,

Sarbottam Cement Limited has successfully listed 4,65,00,000 units of its IPO shares on the Nepal Stock Exchange (NEPSE), encompassing shares held by promoters as well as those issued to the Qualified Institutional Investors (QIIs), general public and industry-affected locals.

The initial trading session's opening range for the first transaction spans from Rs. 185.36 to Rs. 556.08. Notably, if the company signs an agreement with NEPSE, the IPO shares issued to the general public, which are currently 60 lakh shares out of the total, can be traded in the secondary market from the next day.

Of the total 4,65,00,000 unit shares, 12.9033% or 60 lakh shares were made available. Among these, 40% (24 lakh shares) were allocated to Qualified Institutional Investors (QIIs), while the remaining 60% (36 lakh shares) were earmarked for the general public, including industry-affected locals, foreign migrants, mutual funds, and company employees.

The IPO process was managed by Global IME Capital, overseeing the application procedure wherein interested investors could subscribe for a minimum of 50 units and a maximum of 10,000 units. The share price for common investors was established at Rs. 360.90 per share, a valuation determined through the meticulous book-building method.

Noteworthy is the fact that the listed shares will be traded under the symbol 'SARBTM' on NEPSE.