Kathmandu. Everest Colours Limited has issued its initial public offering (IPO). The company has issued the IPO to the general public after allocating the IPO to the Nepalese working abroad in the first phase.

The company has been granted permission from the Securities Board of Nepal (SEBON) to issue 7,90,000 units of shares worth Rs 7.90 crore i. e. 26.33% of the issued capital of Rs 300 million.

Out of the offered, the company has already issued 10% i. e. 79,000 units of shares worth Rs 79,000 to the Nepalese employed abroad. The company has already issued 39,500 units of shares to mutual funds and 15,800 units to its employees.

In the second phase, the company is issuing 6,55,700 units of shares at face value of Rs 100 per share to the general public.

Applications can be place for minimum 10 units and maximum 10,000 units. Applications can be submitted till June 10. Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance.

Care Ratings Nepal has assigned CareNP Double B Issue Rating to the company for the IPO issuance. This indicates a moderate risk to the company’s ability to meet its obligations.