KATHMANDU, Jan 29: Om Megashree Pharmaceuticals Limited (OMPL) is issuing 180,000 units of its initial public offerings (IPO) worth Rs 225 million for Nepali migrant workers starting from Monday.
In the announcement letter issued by the OMPL on January 23, the drug manufacturer had stated that the subscription of its IPOs will remain open until February 17. The company had planned to float 30 percent of its issued capital worth Rs 600 million to the general public.
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In the first phase, the OMPL is issuing 180,000 units (10 percent of the shares to be allotted for public) at the rate of Rs 100 per unit for migrant workers who have received work permits from the government to work abroad.
The OMPL has appointed Prabhu Capital Limited as the issue manager for its IPO issuance. The company has received an issuer credit rating of CARE-NP BB-(Is) [Double B Minus (Issuer)]. This rating reflects a moderate risk of default regarding timely servicing of financial obligations. The credit rating shows that the company retains medium level risk in settling its financial liabilities on time.
The OMPL received its operating license from the Office of Company Registrar on June 12, 2016. The company that manufactures medicinal products from its Chitwan-based production plant, is being promoted by a group of institutional and individual investors. It has reported net profits of Rs 13.87 million in fiscal year 2023/24 and projected to earn net profits of Rs 34.38 million in the current FY.
As of the last FY, the networth per share of the OMPL stood at Rs 90.17 which is projected to grow to Rs 98.11 by the end of the current FY. Its earning per share was Rs 3.30, which is projected to reach to Rs 5.73 in the review year.
