Dhangadhi: Sarbhatam Paints, headquartered in Attariya, Kailali, has officially declared its intention to issue shares to the general public. The decision was reached during the board of directors' general meeting on January 10, where plans for the company's growth and market expansion were also outlined.
Currently boasting an authorized capital of 20 crores and an issued capital of 20 crores, the company aims to augment its financial strength by increasing its capital to 30 crores. In a strategic move, the general meeting endorsed the distribution of bonus shares, equivalent to 37.63 percent of the paid-up capital. Furthermore, the company has resolved to issue 20 percent of shares to both employees and the general public.
Shivsingh Karki, the company's director, revealed that the decision to distribute bonus shares and the allocation of shares for employees and the general public were key highlights of the meeting. Additionally, the company is set to be listed on the Nepal Stock Exchange and Securities Board, a move intended to facilitate the issuance of shares to employees and the public.
Karki emphasized that Sarbhatam Paints, as the first limited company in the Far West, has been steadily expanding its network of dealers nationwide. The upcoming share offering signifies a significant step in the company's ambitious plans for growth and market presence.