What is Opening Price Range of Sarbottam Cements
The opening price range of Sarbottam Cements will be Rs. 185.36 to Rs.556.08. Nepal Stock Exchange will determine the opening price range based on the audited financial statement of fiscal year 79/80. The net worth per share of the company in the fiscal year 79/80 is Rs.185.36. The earnings per share of the company is Rs.5.28. Like wise reserve and surplus of the company is Rs.3,45,69,75,000.
Sarbottm Cements IPO Highlights
As per the CDSC report, 10,12,384 applicants applied for a total of 53,633,990 units, worth of Rs.19.35 Arba. The remarkable oversubscription rate of 19.32 times implies that, on average, 1 lucky applicant in every 20 applicants will receive 50 units.
| Company | Serbottam Cements Limited |
|---|---|
| Per Share Price | Rs. 360.90 |
| For General Public | 2,776,076 Units |
| For Local | 930,000 Units |
| For Migrant Workers | 267,000 Units |
| For Mutual Funds | 1,54,227 Units |
| For Employees | 1,54,227 Units |
| Issuer Rating | ICRANP-IR] BBB+ |
| Long-term rating | [ICRANP] LBBB+ |
| Short-term rating | [ICRANP] A2 |
| Issue Manager | Global IME Capital |
How is the opening price range of the stock determined?
Nepal stock exchange (NEPSE) determines a new company’s opening price range based on the company’s book value (net worth per share). The net worth is taken from the company’s audited financial report issued during the IPO issuance. Every company has to publish it’s audited financial report and projected report of the company before applying for IPO issue to public. For example, if the book value of the company’s latest audited report is 100 then the opening price range will be 100 – 300. The minimum price should be the same as the book.
What is a special pre-open session?
A special pre-open session is a trading time for newly listed stock. When a new company gets listed in NEPSE for the first time, its share is traded in the special pre-open session for the first time. After trading in the pre-open session, its share starts to change in the continuous session which is 11 AM – 3 PM.
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