Shreenagar Agritech Industries Issuing IPO Shares to Locals of Rupandehi and Palpa District And Nepalese Employed Abroad From Bhadra 11

Shreenagar Agritech Industries Limited has published an offer letter to issue an Initial Public Offering (IPO) of 1,63,125 units IPO shares to the project-affected locals of Rupandehi and Palpa District and 3,09,938 units of IPO Shares to Foreign Nepalese Immigrants.

The IPO shares to the project-affected locals of Rupandehi and Palpa District will open from 11th Bhadra to 25th Bhadra, 2082, with a possible extension till Ashwin 9 if not fully subscribed by the early closing date, while for Nepalese citizens working abroad, the issue will open from 11th Bhadra to 15th Bhadra, 2082, and may be extended till Bhadra 25 if undersubscribed.

The issued capital of the company is Rs. 1.63 Arba. Of this, 20%, i.e., 32,62,500 unit shares, will be issued to the public. Out of the total issue capital, 1%, which amounts to 1,63,125 unit shares worth Rs. 1.63 Crores, will be allocated to project-affected locals of Rupandehi and Palpa districts. The remaining 19% of the issued capital, i.e., 30,99,35 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10%, a total of 3,09,938 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open on the date mentioned above.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units.

Nabil Investment Banking Limited has been appointed the issue manager for the public offering.

ICRA Nepal Limited has upgraded the issuer rating of Shreenagar Agritech Industries Limited from [ICRANP-IR] B- to [ICRANP-IR] B. Entities with this rating are considered to have a high risk of defaulting on financial obligations. The rating reflects the general creditworthiness of the issuer and is not specific to any particular debt instrument. The rating scale ranges from [ICRANP-IR] AA to [ICRANP-IR] C, with plus (+) and minus (-) signs indicating comparative positioning within a category. A B+ rating is one notch higher than B, while B- is one notch lower.

Shreenagar Agritech Industries Limited (SAI), established in 2004 and converted into a public company in 2023, produces poultry, cattle, and fish feed under the brands ‘Sunaulo’ and ‘Himdana.’ With an annual capacity of 135,780 metric tonnes at its Rupandehi plant, SAI has also expanded into poultry and meat processing. Major promoters include Satish Chandra Shrestha (34%), Chandra Pankaj Developers (12%), Shikhar Insurance (8%), Citizen Life Insurance (4%), and around 830 other investors holding 42%.

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