SY Panel Nepal Opens IPO for Locals and Migrant Workers

SY Panel Nepal Ltd. opened its initial public offering (IPO) on Tuesday, targeting residents of industrially affected areas and Nepalis employed overseas.

The company, with an authorized capital of NPR 1.31 billion, received approval to issue 40% of its paid-up capital, equivalent to 5.23 million shares worth NPR 523.25 million. Out of this, 2% (261,629 shares) have been allocated for locals of Ratnanagar Municipality in Chitwan, priced at NPR 100 per share.

Additionally, 10% of the retail portion—497,092 shares worth NPR 49.7 million—has been set aside for Nepalis working abroad with valid labor permits. The IPO also reserves 149,127 shares for employees and 248,546 shares for mutual funds.

Applicants can subscribe for a minimum of 10 shares and up to 50,000 shares. The subscription for locals will close as early as October 7 and no later than October 25, while the tranche for migrant workers will close between September 26 and October 7.

Rating agency ICRA Nepal has assigned the issue a grade of [ICRANP] BB, indicating moderate credit risk. Prabhu Capital Ltd. is the issue manager. Locals may apply through SY Panel Nepal’s office in Ratnanagar, Prabhu Capital in Kamaladi, and designated Prabhu Bank branches in Sauraha and Tandi. Online applications are also available via Prabhu Capital’s portal.

Migrant workers can apply through all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON).