Shivam Cement’s IPO goes 77% unsubscribed; collects Rs 6.07 crore from 995 applicants till the last day

The much talked IPO of Shivam Cement has failed to leave its mark. As of the last day, only Rs 6,07,23,000 was collected from around 995 applicants.

One of the largest cement industries of the country had issued 8,80,000 unit shares as its Initial Public Offering for the locals of Makawanpur district. The issue was made at a price of Rs 300 (Rs 100 plus premium of Rs 200).

Only about 23% of the issue was subscribed. The unsubscribed shares will be issued for the general public.

ICRA Nepal had assigned Grade 3+ rating to the IPO of Shivam Cements Limited indicating Average Fundamentals.

Siddhartha Capital has been appointed as the issue manager for the IPO issuance.

Shivam Cement had issued 8.80 lakh shares IPO for locals at Rs 300 per share, and will be issuing 44 lakh shares IPO for general public at Rs 400 per share for a total of 52.80 lakh units IPO. After the IPO, its paid-up capital will reach Rs 4.40 arba.