Allotment Completed at Prabhu Capital
SY Panel Nepal Limited's IPO allotment was successfully concluded today at the premises of its issue manager, Prabhu Capital Limited, located at Prabhu Group Building, Kamaladi, Kathmandu. This marks the official completion of one of the highly awaited IPOs of 2082.
Details of the IPO Issue
The company had issued 40,76,156 units of shares to the general public from 19th Kartik to 23rd Kartik, 2082.
SY Panel Nepal’s issued capital stood at Rs. 1.30 Arba, of which 40% (52,32,548 units) was allocated for public issuance.
Among the public issue:
- 2% (261,627 units worth Rs. 2.61 crores) were allotted to project-affected locals of Chitwan.
- The remaining 38% (49,70,920 units) was set aside for the general public.
- Within this, 10% (497,092 units) had already been allotted to Nepalese citizens working abroad.
- 3% (149,127 units) were reserved for employees.
- 5% (248,546 units) were reserved for mutual funds.
- The remaining 4,076,156 units were available for general public applicants.
Subscription and Application Status
The issue received an overwhelming response, with 20,87,320 valid applications for a total of 2,31,78,470 units. Additionally, 18,054 applications requesting 2,28,650 units were disqualified due to errors.
Allotment Outcome
Based on the allotment module:
- 4,07,615 applicants were allotted 10 units each via lottery.
- 6 applicants received 1 unit each.
This confirms that the IPO was significantly oversubscribed, making allotment available only through a lucky draw system.
How to Check the IPO Result
Applicants can check their results through:
- CDSC IPO Result
- MeroShare
- Prabhu Capital Limited website
Company Rating and Background
ICRA Nepal has reaffirmed SY Panel Nepal Limited’s issuer rating at [ICRANP-IR] BB, indicating a moderate risk of default in meeting timely financial obligations.
Established in July 2017, SY Panel Nepal Limited (SYPNL) manufactures EPS and PUFF sandwich panels, UPVC windows, steel doors, and EPS materials commonly used in prefabricated construction. It is a subsidiary of SY Co. Limited, South Korea, which holds about 63% of the shares. The remaining ownership lies primarily with Korean nationals associated with the parent company.
The company operates through a network of 62 dealers across Nepal, with its production facility located in Ratnanagar, Chitwan.