Shivam Cement’s IPO issue collects only Rs 1 crore from 234 applicants; About 96% shares still remain untouched

The IPO issuance of Shivam Cement has not collected the expected amount for the issuance. Till today, the issue has collected Rs 1,00,92,000 from 234 applicants. The applicants have placed applications for 33,640 units.

Shivam Cement is issuing 8,80,000 unit shares as its Initial Public Offering for the locals of Makawanpur district from Shrawan 13, 2075. i.e. today. The issue made at a price of Rs 300 (Rs 100 plus premium of Rs 200) will last till Bhadra 11, 2075.

The interested applicants from Makawanpur district can apply for a minimum of 10 units and for a maximum of 10,000 units of the issued shares. However, the applicants can choose not to place their applications through C-ASBA. The interested locals can collect application forms from any of the financial institutions providing C-ASBA services and can submit their applications in the various designated collection centres in Makawanpur districts.

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 is coming out with 8.80 lakh shares IPO for locals at Rs 300 per share, and 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. At the IPO prices, P/E ratio will stand at 10.57 times for locals and at 14.09 times for the general public.