SY Panel Nepal Limited IPO Allotment Concludes: Lucky 4,07,615 Applicants Allotted 10 Units Each via Lottery System

SY Panel Nepal Limited's IPO allotment was concluded today at the premises of the issue manager, Prabhu Capital Limited, Prabhu Group Building, Kamaladi, Kathmandu.

The company had issued 40,76,156 units as an Initial Public Offering (IPO) to the general public from (19th Kartik, 2082 to 23rd Kartik, 2082).

The issued capital of the company was Rs. 1.30 Arba. Of this, 40%, i.e., 5,232,548 unit shares, were issued to the public. Of the total issued capital, 2%, which amounted to 261,627 unit shares worth Rs. 2.61 Crores, were allotted to project-affected locals of Chitwan district. The remaining 38% of the issued capital, i.e., 4,970,920 unit shares, was allocated to the general public. Of this general public issue, 10%, a total of 497,092 unit shares, had already been allotted to Nepalese citizens working abroad. Of the general public issue, 3%, i.e., 149,127 units, were set aside for the company's employees, and 5% of the total offered shares, i.e., 248,546 units, were set aside for mutual funds. The remaining 4,076,156 units were made available for the general public.

The issue received a total of 20,87,320 valid applications for 2,31,78,470 units. Meanwhile, 18,054 applications for 2,28,650 units were disqualified.

As per the allotment module, 4,07,615 applicants were allotted 10 units each via lottery, and 6 applicants received 1 unit each.

Allotment Module:

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

ICRA Nepal has reaffirmed SY Panel Nepal Limited’s (SYPNL) issuer rating at [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating Double B), reflecting a moderate risk of default in meeting timely financial obligations.

SY Panel Nepal Limited (SYPNL), established in July 2017, produces expanded polystyrene (EPS) and polyurethane foam (PUFF) sandwich panels, UPVC windows, steel doors, and EPS materials, widely used in prefabricated home construction. It is a subsidiary of South Korea-based SY Co. Limited, which holds approximately 63% of the shares, with the remaining stake primarily owned by Korean nationals affiliated with SY Co. Limited. SYPNL’s manufacturing facility is located in Ratnanagar, Chitwan, and the company operates across Nepal through its network of 62 dealers.