Sopan Pharmaceuticals Limited is closing the issue of 34,74,900 units of IPO shares at a par value of Rs 100 from today, i.e., 8th Baishakh, 2083. The issue was opened for the general public on 3rd Baishakh, 2083.

The issued capital of the company is Rs. 1.71 Arba. Of this, 25%, i.e., 42,90,000 unit shares, will be issued to the public. Of this general public issue, 10% of 42,90,000 units, a total of 4,29,000 units, were allotted to Nepalese citizens working abroad. 4%, i.e., 1,71,600 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 2.14,500 units, have been reserved for mutual funds. The remaining 34,74,900 units are for the general public and will be closed from today.

NMB Capital Limited has been appointed the issue manager for the public offering. Applications could be placed for a minimum of 10 units and a maximum of 11,000 units.

According to CDSC, 25,17,763 applicants have applied for 2,88,70,330 units. Thus, the issue has been oversubscribed 8.30 times.

CARE Ratings Nepal Limited (CRNL) has upgraded the issuer rating of Sopan Pharmaceuticals Limited (SPL) from CARE-NP B- (Is) to CARE-NP B (Is), indicating a high risk of default. The long-term bank facility rating was also revised to CARE-NP B, while the short-term bank facility rating of CARE-NP A4 was reaffirmed.

Sopan Pharmaceuticals Limited (SPL), a public company incorporated in 2009 and promoted by both institutional and individual stakeholders, manufactures generic and cephalosporin drugs at its Lalitpur facility in Nepal, holding licenses for 139 drug types for production and 70 for marketing.