Sonapur Minerals and Oil Limited has opened its IPO for the general public from Sunday, Ashoj 14. The company has issued 9,732,544 shares at a premium of NPR 237.58 per share, including a premium of NPR 58.58 per share added to the face value of NPR 137.
In the first phase, the company had issued 1,537,525 shares to the locals of Dang and Rolpa districts at a premium of NPR 125 per share, adding NPR 15. The total value of the shares issued in this phase was NPR 225,037,525.
Local residents had applied for only 134,520 shares in this category. Accordingly, a share allotment was done via a lottery system.
Furthermore, the company had also allocated 1,216,568 shares for Nepalis employed abroad, 684,284 shares for collective investment funds, and 684,284 shares for employees. The IPO will remain open until Ashoj 17.
If all shares are not sold by then, the offering will be extended until Ashoj 28. Investors can apply for a minimum of 10 shares and a maximum of 1,500,000 shares. NMB Capital, as the sales manager, has provided this information.
Credit rating agency, Infomerics Nepal, has rated this IPO with an ‘IRN Triple B Minus Issue Rating,’ indicating a moderate level of financial obligation. This rating was assigned on September 29, 2023, and will remain valid until December 13, 2023.
Sonapur Minerals and Oil Limited was established under the Companies Act, 2063. The company’s registered office is located in Ward No. 9 of Kathmandu Metropolitan City, and its factory is situated in Ward No. 18 of Tulsipur Sub-Metropolitan City, Dang.
This is a production-based industry that has been involved in the production of clinker and cement since Jestha 28, 2069. The total cost of this industry is NPR 8,071,000,000. It has a clinker production capacity of 213,357 metric tons (MT), OPC cement production capacity of 172,072 MT, PPC of 549,480 MT, and PSC of 49,924 MT.
Sonapur Minerals has an authorized capital of NPR 5 billion and an issued capital of NPR 3.75 billion. After the IPO, the promoter’s share will be 60%, and the public share will be 40%. The company is projected to have a premium of NPR 1.66 billion in its share premium account after the IPO.
Sonapur Minerals is estimated to generate a net profit of NPR 546,077,700 by the end of the current fiscal year. It is projected to earn a net profit of NPR 680,607,600 in FY 2081-82 and NPR 724,219,000 in FY 2082-83.
| Details | Values |
|---|---|
| Sonapur Minerals and Oil Limited IPO Opening Date | As of Ashoj 14 |
| Number of Shares Issued | 9,732,544 |
| Issue Price per Share | NPR 237.58 |
| Premium per Share | NPR 58.58 |
| Total Value of Issued Shares | NPR 2,311,823,615.52 |
| Shares Issued to Locals (Dang and Rolpa) | 1,537,525 |
| Price with Premium (per Share) | NPR 125 |
| Total Value of Shares Issued to Locals | NPR 225,037,525 |
| Shares Allocated to Local Residents | 134,520 |
| Shares Issued to Nepalis Employed Abroad | 1,216,568 |
| Shares Issued for Collective Investment Funds | 684,284 |
| Shares Issued for Employees | 684,284 |
| IPO Application Deadline | Until Ashoj 17 |
| Extended IPO Deadline (if needed) | Until Ashoj 28 |
| Minimum Shares per Application | 10 |
| Maximum Shares per Application | 1,500,000 |
| Sales Manager | NMB Capital |
| Rating Agency | Infomerics Nepal |
| Rating | IRN Triple B Minus Issue Rating |
| Rating Valid Until | December 13, 2023 |
| Company Establishment Year | 2063 BS |
| Registered Office Location | Ward No. 9, Kathmandu Metropolitan City |
| Factory Location | Ward No. 18, Tulsipur Sub-Metropolitan City, Dang |
| Total Cost of Production | NPR 8,071,000,000 |
| Clinker Production Capacity | 213,357 MT |
| OPC Cement Production Capacity | 172,072 MT |
| PPC Cement Production Capacity | 549,480 MT |
| PSC Cement Production Capacity | 49,924 MT |
| Authorized Capital | NPR 5,000,000,000 |
| Issued Capital | NPR 3,750,000,000 |
| Promoter’s Share after IPO | 60% |
| Public Share after IPO | 40% |
| Share Premium after IPO | NPR 1,660,614,949 |
| Projected Net Profit (Current Fiscal Year) | NPR 546,077,700 |
| Projected Net Profit (FY 2081-82) | NPR 680,607,600 |
| Projected Net Profit (FY 2082-83) | NPR 724,219,000 |