August 3: The Regulatory Body, Securities Board of Nepal(SEBON) has granted permission to Sonapur Minerals and Oil Limited to issue Initial Public Offering (IPO) at a premium price. The SEBON approved the company to issue the IPO worth over Rs  3.7 billion on August 2. 

Upon receiving approval, the company will issue a total of 12,300,200 IPO shares for the general public, Nepalis on foreign employment and locals.

The company will issue IPO to the locals and its employees at Rs 225(adding a premium of Rs 125 at the face value of Rs 100). IPO will be issued to general public and Nepali migrant workers on foreign employment at Rs 237.58(adding a premium of Rs 137.58 to the face value of Rs 100).

NIMBL Capital will be the sales manager.

In the first phase, the company will issue IPO shares to locals and Nepalis on foregin employment. IPO will be issued for the general public in the second phase.