Sopan Pharmaceuticals Limited Closing IPO for Foreign Nepalese Immigrants From Today

Sopan Pharmaceuticals Limited is closing the IPO issue for foreign Nepalese Immigrants today, i.e., 12th Chaitra, 2082. The issue was opened on the 9th Chaitra, 2082.

The company's issued capital is Rs. 1.71 Arba. Of this, 25%, i.e., 42,90,000 unit shares, will be issued to the public. Of this general public issue, 10% of 42,90,000, a total of 4,29,000 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open from today. 4%, i.e., 1,71,600 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 2.14,500 units, have been reserved for mutual funds. The remaining 34,74,900 units will be issued for the general public.

Of this general public issue, 10% of 57,00,000, a total of 5,70,000 unit shares, have been set aside for Nepalese citizens working abroad, and the issue will close from today.

For Nepalese citizens working abroad, the minimum application quantity is 10 units, and the maximum is 11,000 units..

According to CDSC, 84,324 applicants have applied for a total of 12,32,850 units. Thus, the issue has already been oversubscribed 2.87 times.

NMB Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has upgraded the issuer rating of Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), indicating a high risk of default. The long-term bank facility rating was also revised to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 was reaffirmed.

Sopan Pharmaceuticals Limited (SPL), a public company incorporated in 2009 and promoted by both institutional and individual stakeholders, manufactures generic and cephalosporin drugs at its Lalitpur facility in Nepal, holding licenses for 139 types of drugs for production and 70 types for marketing.