IPO of Sopan Pharmaceuticals opened from today, how many applications?

The IPO of Sopan Pharmaceuticals Limited is open to the general public from today. The company has started the second phase of public issue by issuing shares equal to 25 percent of its issued capital. Earlier, the first phase of expulsion and distribution for Nepalis who are employed abroad has also been completed. The company has received permission from the Nepal Securities Board to issue a total of 42 lakh 90 thousand IPO shares based on the issued capital of 1 billion 716 million rupees. Out of this, 1 lakh 71 thousand 600 shares have been allocated for employees and 2 lakh 14 thousand 500 shares for collective investment fund, while the remaining 34 lakh 74 thousand 900 shares have been opened to the general public.

In this IPO, investors can apply for a minimum of 10 shares to a maximum of 11,000 shares at a rate of Rs 100 per share. As per the date for the application, the time has been fixed till 8th Baisakh at the earliest. If the application is not received in accordance with the required demand during that period, the issuance period will be extended and kept open until May 17, the company said. Earlier, the company had issued 4 lakh 29 thousand shares for the Nepalese who were employed abroad in the first phase from 9th to 12th of March, the allotment of which was completed on 17th of March.

The Nepal Securities Board has granted permission for the IPO issue to the company on February 17. Sopan Pharmaceuticals has announced that it is going to collect capital from the general public with the aim of expanding its business in the field of drug production and distribution. The company clarified that the collected amount will be used for bank loan repayment, working capital management and expansion of new projects.