Srinagar Agritech Industries IPO Opens for Public Subscription Toda

Srinagar Agritech Industries Limited has officially opened the public subscription phase of its IPO from today, Asoj 26, 2082 BS. Previously, the company had allocated shares to local residents in affected industrial areas, Nepalis working abroad, collective investment funds, and employees.

The IPO represents 20% of the company's issued capital, totaling NPR 32.62 crore (32,62,500 shares). In the first allocation phase, 163,125 shares were distributed to local residents, 309,938 shares to Nepalis working abroad under government-approved labor schemes, 154,969 shares to collective investment funds, and 123,975 shares to company employees.

Now, in the second phase, the company is offering 25,10,493 shares at a par value of NPR 100 per share to the general public, raising approximately NPR 25.10 crore.

Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares. The subscription window will close between Asoj 29 and Kartik 9, depending on demand.

ICRA Nepal has assigned the company a rating indicating high risk in meeting financial obligations, reflecting the company’s current financial risk profile.

The IPO manager and selling agent is Nabil Investment Banking Limited. Applications can be submitted through all SEBON-approved ASBA member banks and financial institutions, including their designated branches, via the ASBA system.

This public offering provides retail investors an opportunity to participate in the company's expansion plans and capitalize on the growth of the agritech sector.