SY Panel Nepal Limited IPO Result Date, Opening Date & Total Shares
SY Panel Nepal Limited IPO is now open for the general public. Company has officially opened its Initial Public Offering (IPO) for the general public starting from 19th Kartik, 2082.
According to the company, The early closing date for the IPO is 23rd Kartik, 2082, but if the issue is not fully subscribed by then, the deadline will be extended to the 3rd of Mangsir, 2082. SY Panel Nepal Limited is issuing 40,76,156 unit shares at a par value of Rs. 100 per unit.
Founded in July 2017, SY Panel Nepal Limited (SYPNL) manufactures steel doors, UPVC windows, expanded polystyrene (EPS) and polyurethane foam (PUFF) sandwich panels, and EPS materials that are frequently utilized in prefabricated housing construction. It is a subsidiary of South Korea-based SY Co. Limited, which owns around 63% of the shares. Korean people connected to SY Co. Limited own the majority of the remaining shares. With a network of 62 dealers, SYPNL operates throughout Nepal from its manufacturing site in Ratnanagar, Chitwan.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance.
SY Panel Nepal Limited IPO Result Date, Opening Date & Total Shares
SYPanel Nepal IPO Details:
- The issued capital of the company is Rs. 1.30 Arba.
- Out of issued capital, 40%, i.e., 5,232,548 unit shares is going to be issued to the public.
- Of the total issue capital, 2%, which amounts to 2,61,627 unit shares worth Rs. 2.61 Crores had been already allotted to project-affected locals of Chitwan district.
- The remaining 38% of the issued capital or 49,70,920 unit shares is set for the general public.
- Of this general public issue, 10%, a total of 4,97,092 unit shares, were already allotted to the Nepalese citizens working abroad.
- Of the general public issue, 3%, i.e., 1,49,127 units, have been set aside for the company’s employees
- 5% of the total offered shares, i.e., 2,48,546 units, have been set aside for the mutual funds.
- The remaining 40,76,156 units are for the general public and were opened from the 19th Kartik.
Applications could be placed for a minimum of 10 units and a maximum of 50,000 units.
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.
