Sopan Pharmaceuticals Limited IPO Allotment Concludes: Lucky 3,47,490 Applicants Allotted 10 Units Each via Lottery System

Sopan Pharmaceuticals Limited's IPO allotment was concluded today at the premises of the issue manager, NMB Capital Limited, Baluwatar, Kathmandu.

The company had issued 34,74,900 units as an Initial Public Offering (IPO) to the general public from (3rd Baishakh, 2083 to 8th Baishakh, 2083).

The issued capital of the company 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 units, a total of 4,29,000 units, were allotted to 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 were issued for the general public.

The issue received a total of 27,30,987 valid applications for 2,99,06,520 units. Meanwhile, 37,756 applications for 4,60,430 units were disqualified.

As per the allotment results, 3,47,490 applicants were allotted 10 units each through a lottery system.

Allotment Module:

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

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 drug types for production and 70 for marketing.