Sarbottam Paints to Offer IPO to General Public from May 28

Sarbottam Paints Industries Limited is set to open its Initial Public Offering (IPO) for general investors starting from Jestha 28.

The company has already completed the allocation process for the shares reserved under the foreign employment quota. Following the completion of this allotment, the company is now preparing to issue the remaining shares to the general public.

Sarbottam Paints had received approval to issue IPO worth 8.5 million shares, equivalent to 25 percent of its issued capital of NPR 340 million.

Out of the total issue, 10 percent of the shares were allocated to Nepali workers employed abroad, which has already been distributed. Additionally, shares allocated for mutual funds have also been completed.

With these allocations finalized, the remaining shares will now be made available for public subscription. The IPO is expected to provide new investment opportunities for retail investors across Nepal.