Om Megashree Pharmaceuticals has opened its Initial Public Offering (IPO) for the general public starting Tuesday. The company has issued 1.476 million shares in this phase, allowing investors to apply for a minimum of 10 and a maximum of 10,000 units until March 16.
This IPO follows the first phase, in which shares were allocated to foreign-employed individuals, mutual investment funds, and company employees. Previously, the company allotted 180,000 shares worth Rs 18 million to workers employed abroad, 90,000 shares to mutual funds, and 54,000 shares to its employees.
The Securities and Exchange Board of Nepal (SEBON) had approved Om Megashree Pharmaceuticals to issue a total of 1.8 million shares, worth Rs 180 million, representing 30 percent of its issued capital of Rs 600 million.
Om Megashree Pharmaceuticals operates in the production and processing sector. Established last year with an investment of approximately Rs 1.25 billion, the company has been manufacturing pharmaceutical drugs since its inception. Prabhu Capital is managing the IPO issuance and sales for the company.
