The company is issuing 30 percent of its issued capital which is 2,250,000 units of shares worth Rs 225 million as IPO to the general public. Out of it, the company is issuing 10 percent i.e. 225,000 units of shares worth Rs 22.5 million to foreign migrated workers.
Moreover, the company has allocated 3 percent i.e. 67,500 units for employees and 5 percent i.e. 112,500 units to mutual funds. The remaining 1,845,000 units will be issued to the general public.
The interested investors can apply for a minimum of 10 and maximum of 100,000 units. They can apply till February 4.
The company has appointed NIMB Ace Capital as issue manager. The applicants can apply from all ASBA approved BFIs and Meroshare.
Care Ratings has assigned BB- rating to the issuer indicating moderate risks.
