The company obtained approval of issuing 30 percent of its issue capital worth Rs 750 million to the general public. Out of it, it issued and allotted 10 percent i.e. 225,000 units of shares worth Rs 22.5 million to foreign migrated workers. Moreover, the company allotted 67,500 unit shares to employees and 12,500 to mutual funds.
Now in the second phase, the company is issuing 1,845,000 unit shares worth Rs 1.845 million to the general public.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares. The issue will close early on March 10 and lately on March 20.
The company has appointed NIMB Ace Capital as issue manager. The applicants can apply for all ASBA approved BFIs and Meroshare.
ICRA Nepal has assigned BB rating to the issuer indicating moderate risks.
