Everest Colour Limited has officially opened its Initial Public Offering (IPO) for Nepalese citizens working abroad starting 16th Baisakh 2083, offering 79,000 units of shares under the foreign employment quota.

This marks the first phase of the company’s public share issuance, allowing eligible Nepalis overseas to participate before the general public offering.

Table of Contents

IPO Opening and Closing Dates

The IPO for Nepalese citizens working abroad will be available during the following period:

Opening Date: 16th Baisakh 2083
Closing Date: 22nd Baisakh 2083
Extended Closing (if undersubscribed): Up to 30th Baisakh 2083

Applicants are encouraged to apply early, as extensions typically occur only when demand is insufficient.

IPO Structure and Share Allocation

The total issued capital of Everest Colour Limited stands at Rs. 30 Crores.

Public Share Distribution:

Total shares issued to public: 7,90,000 units (26.33% of issued capital)
Reserved for Nepali workers abroad: 79,000 units (10% of public issue)
Remaining shares for general public: 7,11,000 units

This phased allocation ensures priority participation for Nepali citizens working overseas.

Application Details for Foreign Employment Category

Eligible Nepalese citizens working abroad can apply within the following limits:

Minimum application: 10 units
Maximum application: 7,000 units

Applications must be submitted through approved banking and online IPO application systems.

Issue Management and Credit Rating

The IPO is being managed by Muktinath Capital Limited, which has been appointed as the official issue manager.

Meanwhile, CARE Ratings Nepal Limited has upgraded the issuer rating of the company.

Latest Credit Rating:

New Rating: CARE-NP BB (Is)
Previous Rating: CARE-NP BB- (Is)
Meaning: Moderate risk of default in meeting financial obligations on time

The rating upgrade reflects improved financial strength compared to earlier assessments.

Company Overview

Everest Colour Limited was originally incorporated on May 5, 2011 as a private limited company and later converted into a public limited company on June 24, 2024.

Business Activities:

The company manufactures and sells a wide range of paint products, including:

Exterior and interior emulsion paints
Enamel paints
Wood and metal primers
Acrylic distempers
Aluminium and gold paints
Cement paints
Floor coatings
Industrial paints

Manufacturing Facility:

Location: Tungara-03, Chitwan
Operational Experience: Over a decade in the paint manufacturing sector

This operational history supports its transition into the public market.

FAQ

1. When did the Everest Colour IPO for foreign workers open?

The IPO opened on 16th Baisakh 2083 for Nepalese citizens working abroad.

2. How many shares are allocated to Nepalese citizens working abroad?

A total of 79,000 units of shares have been reserved under the foreign employment quota.

3. What is the minimum and maximum application limit?

Applicants can apply for:

Minimum: 10 units
Maximum: 7,000 units

4. Who is managing the Everest Colour IPO?

The IPO is being managed by Muktinath Capital Limited.

5. What is the credit rating of Everest Colour Limited?

CARE Ratings Nepal Limited assigned a CARE-NP BB (Is) rating, indicating moderate credit risk.

6. Where is the company’s manufacturing plant located?

The plant is located in Tungara-03, Chitwan.

7. What does Everest Colour Limited produce?

The company manufactures various paint products, including decorative paints, industrial paints, primers, coatings, and specialty paints.

Bottom Line

The IPO launch of Everest Colour Limited for Nepalese citizens working abroad provides an early investment opportunity in a growing domestic paint manufacturer. With a decade-long operational track record and an upgraded credit rating, the offering marks an important step in the company’s transition into the public market.

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