Sonapur Minerals IPO received 1.20 times more applications than demand.

                                    Sonapur Minerals IPO received 1.20 times more applications than demand.

In the IPO of Sona Pur Minerals and Oil Limited, applications worth NPR 2,079,215,858 have been received.

According to CDSC, as of Wednesday (Ashoj 17) at 5:07 PM, 986,750 individuals have applied for 17,529,029 units, which is 1.20 times more than the demand. Consequently, the company has extended the IPO deadline beyond the initial application period.

In this IPO, the company increased the premium to NPR 137.58, making the total issue price NPR 237.58 for shares with a face value of NPR 100. The company has offered 9,732,544 shares for sale to the general public.

For this IPO, applications can be submitted for a minimum of 10 shares and a maximum of 1,500,000 shares. The sale manager, NIBL Ace Capital Limited, has provided information that applications can be submitted through the Mero Share app, as well as through member banks and financial institutions of the ASBA system.

Credit rating agency Informex Credit Rating Nepal has provided the company with an IRR Triple B Minus issuer rating for the IPO, indicating a moderate level of financial capacity and stability.

This rating was provided on Mangsir 15, 2079 (November 30, 2022) and will remain valid until Mangsir 14, 2080 (November 29, 2023).

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