SEBON Approves IPO of SY Panel Nepal Limited
SEBON has cleared SY Panel Nepal’s IPO to issue 5.23 million shares at Rs.100 each, equal to 40% of its paid-up capital
The Securities Board of Nepal (SEBON) has approved the Initial Public Offering (IPO) of SY Panel Nepal Limited (SYPNL), paving the way for the company to raise fresh capital from the public. The approval was issued on 17th Bhadra, 2082.
As per the proposal, the company will float 5,232,548 shares at a par value of Rs. 100 per unit, representing 40% of its total issued capital. The offering will be managed by Prabhu Capital Limited, appointed as the issue manager.
Credit rating agency ICRA Nepal has reaffirmed SY Panel Nepal Limited’s issuer rating at [ICRANP-IR] BB, indicating a moderate risk of default in meeting timely financial obligations. The rating reflects the company’s overall credit profile and does not pertain to any specific debt instrument.
The IPO approval marks a significant step for SY Panel Nepal as it prepares to tap into the growing retail investor base in Nepal’s capital market. The issuance will provide the company with new funding avenues while offering the public a chance to participate in its growth story.