Kathmandu. Everest Colours Limited is going to issue initial public offering (IPO) to the general public from June 5. The company has already allotted the IPO for the Nepalese working abroad.

The company was allowed to issue 7,90,000 units of shares worth Rs 7.90 crore, which is 26.33% of the issued capital of Rs 300 crore. Out of this, 79,000 units of shares have been allotted to the Nepalese working abroad. Furthermore, 39,500 units have been set aside for the mutual funds and 15,800 units have been set aside for the employees.

In the second phase, the company is issuing 6,55,700 units of shares at a face value of Rs 100 per share to the general public. Applications can be place for minimum 10 units and maximum 1000 units.

The last date to apply for the IPO is June 27. If the full application is not received within this period, the issue period will be extended till June 5. Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for the post through the C-ASBA system using the approved banks and financial institutions and ‘My Shares’.