If you applied for the Everest Colors IPO, the wait is almost over. The company’s issue manager, Muktinath Capital Limited, has fixed Asar 4 (Thursday) at 9 am for the share allotment.
Out of all the people who applied, only 65,570 will actually get shares. Everyone else will have to wait for the next IPO that comes their way. Here’s everything you need to know, starting with how to check your result.
How to Check Your Everest Colors IPO Result
There are two easy ways to find out if you got shares. Pick whichever one you’re more comfortable with.
Check on the CDSC Website
This is the simplest option since you don’t need any login.
- Go to iporesult.cdsc.com.np on your phone or laptop.
- From the dropdown, pick Everest Colors Limited.
- Enter your 16-digit BOID number. Double-check it, since one wrong digit gives you a wrong result.
- Type in the captcha shown on screen.
- Click View Result.
You’ll either see “Allotted” with the number of shares you got, or “Not Allotted.” Takes less than a minute.
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Check on MeroShare
Already using MeroShare? You can pull up the same result there.
- Log in at meroshare.cdsc.com.np.
- Click My ASBA on the left side menu.
- Open Application Report.
- Look for Everest Colors Limited in your list of applications.
- The status column will tell you straight away whether you got shares or not.
So, What Happens Next?
Got shares? They’ll land in your demat account within a few working days, no action needed from your side. Once listing formalities are done, Everest Colors will start trading on the Nepal Stock Exchange (NEPSE).
Didn’t get any? Don’t stress about the blocked amount. Your bank will release the funds back automatically through the ASBA system, usually within 2 to 3 working days.
A Quick Recap: How the IPO Was Divided
Everest Colors ran its public IPO from Jeth 22 to Jeth 27, offering 6 lakh 55 thousand 700 units at Rs 100 each. With 65,570 people getting allotted shares out of that pool, it looks like the lottery handed out the standard minimum lot of 10 units per winner, which is common when an issue gets oversubscribed this heavily.
This wasn’t the only batch of shares the company gave out, though. Earlier, Everest Colors had already allotted 79,000 units to Nepalis working abroad, as required by the rule that reserves 10 percent of public shares for migrant workers. That round ran from Baishakh 16 to 22, with shares handed out on Baishakh 29.
On top of that, 39,500 units went to mutual funds and 15,800 units to company employees. Add it all up, and the total IPO size comes to 7 lakh 90 thousand units worth Rs 7.90 crore.
Who Is Everest Colors, Anyway?
Chances are you’ve seen their paint cans before. Everest Colors has been in the paint business for 14 years and is often credited as Nepal’s first paint manufacturing company. It makes everything from premium to budget-friendly brands, built around Nepal’s weather and the needs of everyday households.
The company runs its corporate office out of Koshaltar, Bhaktapur, with the actual manufacturing happening in Khairahani, Chitwan. For outdoor walls, it sells premium and super paints backed by warranties of 7 to 12 years. Indoors, you’ll find its emulsion paints, distemper, primers, and special coatings for wood and metal, plus paints meant for industrial and construction use. For now, everything it makes stays within the Nepali market.
What the Capital Structure Looks Like
The company’s authorized and issued capital sits at Rs 30 crore. Promoters had already put in Rs 22 crore of that before this IPO, and once the public allotment wraps up, the full Rs 30 crore will be paid up.
That leaves promoters holding 73.67 percent of the company, with the remaining 26.33 percent now in public hands.
How the Numbers Stack Up Financially
Everest Colors only crossed into profit territory in financial year 2081/82, closing the year with a modest accumulated profit of around Rs 33,000. Before that, things weren’t as rosy. The company had posted accumulated losses of over Rs 2.40 crore in 2079/80 and over Rs 2.09 crore in 2080/81.
Things are looking up from here, according to the company’s own projections. It expects to end the current financial year with an accumulated profit above Rs 1.44 crore, and by 2084/85, that figure is expected to climb past Rs 7.44 crore.
As for valuation, the real net worth per share is Rs 113.97, and earnings per share (EPS) stands at Rs 9.60.
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Meet the People Running the Company
Five directors sit on the board, led by chairman Maheshwar Khanal. He’s 50, lives in Kathmandu, and brings 20 years of experience in local trading and import-export, despite holding only a certificate-level education. He personally owns 3.39 percent of the company.
Joining him are Saroj Luintel, Rojina Shrestha, Rajan Lal Shrestha, and independent director Kapil Dev Mahato. Mahato has an 18-year background in accounting and finance and holds a postgraduate degree.
Luintel has been around the paint trade since 2058 BS and is also postgraduate-qualified. Rojina Shrestha brings five years of import-export experience and a certificate-level education, while Rajan Lal Shrestha has spent time since 2067 BS in the construction materials business, also at certificate level.
CareEdge Ratings Nepal rated the company’s IPO as CareNP Double B, which in plain terms means it carries a moderate level of risk when it comes to meeting financial commitments.
What Price Might the Share Open At?
Once Everest Colors lists, trading on NEPSE will actually begin from the second trading day, and NEPSE has a standard formula for setting that opening price.
If a company’s real net worth per share is under Rs 100, the price is set based on that net worth. If it’s above Rs 100, like here, NEPSE works off the Rs 100 face value instead, capping the price at three times that.
Given Everest Colors’ net worth of Rs 113.97 per share, expect the first trading price to land somewhere between Rs 100 and Rs 300. After that opening trade, it’s all down to regular market demand and supply, same as any other stock on NEPSE.