SY Panel Nepal Limited is set to launch its initial public offering (IPO) for the general public from Kartik 19. The company had earlier allocated shares in the first phase to local residents in the industry-affected areas and Nepali workers abroad. The company has received approval to issue 40% of its total paid-up capital of NPR 1,30,89,37,100, which amounts to NPR 52,32,54,800 or 52,32,548 shares.

In the first phase, the company issued 2,61,629 shares to local residents and 4,97,092 shares to Nepali workers abroad. Additionally, 1,49,127 shares were reserved for employees and 2,48,546 shares for collective investment schemes.

In the second phase, the company will offer 40,76,156 shares to the general public at a face value of NPR 100 per share. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares. The IPO application period is scheduled from Kartik 23 (earliest) to Mangsir 3 (latest).

Credit rating agency ICRA Nepal has assigned the company an Issuer Rating of BB, indicating a moderate risk in meeting its obligations. The IPO’s issue and sales manager is Prabhu Capital Limited. Investors can apply through all SEBON-approved C-ASBA member banks and financial institutions and their designated branches using the C-ASBA system.