Sarvottam Paints Industries Limited is set to issue its Initial Public Offering (IPO) specifically for Nepalis working abroad. The company will open the IPO from April 21, offering a total of 85,000 shares.

Interested investors can apply until April 24. The minimum application limit is 10 shares, while the maximum limit has been set at 5,000 shares.

Global IME Capital Limited has been appointed as the issue and sales manager for the IPO.

Earlier, the Securities Board of Nepal (SEBON) granted approval to the company on April 2 to proceed with the IPO issuance. This issuance is part of the company’s plan to allocate shares to Nepalis employed overseas in the first phase.