Sopan Pharmaceuticals Limited Concludes IPO Allotment for Nepalese Citizens Working Abroad; 42,900 Lucky Applicants Receive 10 Units each

The IPO allotment for Nepalese citizens working abroad by Sopan Pharmaceuticals Limited was concluded today, 17th 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, were set aside for Nepalese citizens working abroad. 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.

The issue received a total of 82,979 valid applications for 1,167,390 units. Meanwhile, 28 applications for 320 units were disqualified.

As per the allotment module, 42,900 applicants were allotted 10 units each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and NMB Capital Limited.

NMB Capital Limited was appointed as the issue manager. The minimum application quantity for Nepalese citizens working abroad was 10 units, and the maximum was 11,000 units.

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.