SY Panel Nepal Limited (SYPNL) has officially closed the issue of 40,76,156 units of IPO shares at a par value of Rs. 100 per share from 23rd Kartik, 2082. The IPO was open for the general public from 19th Kartik, 2082, and attracted strong investor interest across the country.
The company’s issued capital stands at Rs. 1.30 Arba, of which 40% (52,32,548 units) has been offered to the public. Out of this, 2% (2,61,627 units) worth Rs. 2.61 crores were allocated to project-affected locals of Chitwan district, and the remaining 38% (49,70,920 units) were designated for the general public.
Within the general public portion:
- 10% (4,97,092 units) were allotted to Nepalese citizens working abroad,
- 3% (1,49,127 units) were reserved for company employees, and
- 5% (2,48,546 units) were set aside for mutual funds.
Thus, the remaining 40,76,156 units were available to the general public, and this portion officially closed today.
Prabhu Capital Limited served as the issue manager for the IPO. Interested applicants could apply for a minimum of 10 units and a maximum of 50,000 units.
According to data from CDSC, the IPO received applications from 16,83,262 investors for a total of 1,96,05,940 units, making the issue oversubscribed by 4.80 times.
ICRA Nepal has reaffirmed SY Panel Nepal Limited’s issuer rating at [ICRANP-IR] BB (Double B), indicating a moderate risk of default in meeting timely financial obligations.
Established in July 2017, SY Panel Nepal Limited manufactures expanded polystyrene (EPS) and polyurethane foam (PUFF) sandwich panels, UPVC windows, steel doors, and other EPS materials widely used in prefabricated home construction. The company is a subsidiary of South Korea-based SY Co. Limited, which holds about 63% ownership, with the rest owned primarily by Korean nationals affiliated with SY Co.
The company’s manufacturing facility is located in Ratnanagar, Chitwan, and it operates across Nepal through a network of 62 dealers, serving as a key player in the nation’s modern construction materials industry.