Displaying items by tag: Sarbottam Cement
Sarbottam Cement concludes initial public offering
19 March 2024Nepal: Sarbottam Cement's initial public offering (IPO) concluded on 8 March 2023, with the company issuing 13% of its capital. SSPro News has reported that this corresponds to a value of US$35m. Of the issued shares, 40% were allocated to qualified institutional investors. The issue was oversubscribed by a factor of 18.
The last traded price of Sarbottam Cement’s shares had risen by 10% on its first trading day on 19 March 2024.
Sarbottam launches cement brands in Nepal
15 September 2016Nepal: Sarbottam Cement, part of the Saurabh Group, has launched its Ordinary Portland Cement and Portland Slag Cement brands. The company operates a 0.4Mt/yr cement grinding plant at Ramnagar.
Nepal allocates US$3.3m to connect cement plants to power grid
04 September 2013Nepal: The Nepalese Ministry of Industry (MoI) has allocated US$3.3m towards providing electricity connections to nine cement factories under its infrastructural development programme for manufacturing industries.
According to the Kathmandu Post, the cement plants chosen for the grant are Shivan Cement, Dang Cement, Laxmi Cement, Rolpa Cement, Ghorahi Cement, United Cement, Maruti Cement, Sarbottam Cement and CG Cement.
"A total of 23 cement factories have been selected for the infrastructure development programme for the current fiscal year, out of which nine will receive funds for electricity connectivity while another 14, including the nine, also will get incentives to construct access roads," said Industry Secretary Krishna Gyanwali.
The allocation follows the announcement in July 2013 of government plans to spend US$4m on building access roads to 14 cement plants as part of a wider US$11.3m infrastructure development scheme for the local cement industry. Cement plants that produce clinker using local limestone are eligible for the scheme.