SY Panel Nepal Limited has started offering its Initial Public Offering (IPO) to the general public from 19th Kartik, 2082. The company is issuing 40,76,156 shares at a par value of Rs. 100 per share.
The IPO is scheduled to close on 23rd Kartik, 2082. However, if subscriptions fall short, the deadline will be extended until 3rd Mangsir, 2082.
IPO Structure & Allocation
From the company’s total issued capital of Rs. 1.30 Arba, 40% (5,232,548 shares) has been planned for public issuance.
Within this portion:
- 2% (2,61,627 shares) was reserved for residents affected by the project in Chitwan.
- The remaining 38% (49,70,920 shares) is intended for the general public.
Out of the public’s allocation:
- 10% (4,97,092 shares) has already been distributed to Nepalese citizens working abroad.
- 3% (1,49,127 shares) is reserved for company employees.
- 5% (2,48,546 shares) is allocated to mutual fund schemes.
Thus, 40,76,156 shares are now available to the wider public starting from 19th Kartik.
The issue is being managed by Prabhu Capital Limited, and applicants can apply for a minimum of 10 shares and up to 50,000 shares.
Credit Rating
ICRA Nepal has reaffirmed SY Panel Nepal Limited’s issuer rating at [ICRANP-IR] BB, indicating that the company carries a moderate chance of delayed repayment of financial obligations.
About the Company
Founded in July 2017, SY Panel Nepal Limited (SYPNL) manufactures:
- EPS and PUFF sandwich panels
- UPVC windows
- Steel doors
- EPS raw materials
These products are commonly used in the construction of prefabricated houses and commercial structures.
SY Panel Nepal Limited operates under the ownership of SY Co. Limited, South Korea, holding around 63% stake. The remaining shares are primarily owned by Korean shareholders associated with the same parent company.
Their production plant is located in Ratnanagar, Chitwan, and the company distributes products across Nepal through a strong network of 62 authorized dealers.
