The company has issued capital of Rs 800 million. The company is issuing 2 percent of its issued capital i.e. 160,000 units worth Rs 16 million to locals of affected area. Residents of Banke District can apply for the shares.
Similarly, the company is issuing 10 percent shares of 18 percent of issued capital to foreign migrated workers of Nepal. Accordingly, it will issue 144,000 units of shares to the migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 16,000 units for locals of affected area and maximum of 7,200 unit for foreign migrated workers.
The issue will close on March 18. However, if it is undersubscribed, the deadline for affected locals will be extended to April 2.
Care Rating Nepal has assigned BB+ rating to the issuer indicating average risks.
The company has appointed Nabil Investment Banking as issue manager. the locals of affected area can apply from the project area as well as Kohalpur and Nepalgunj branch of Nabil Bank, Kohalpur and Nepalgunj branch of Laxmi Sunrise Bank, Khajura, Newroad;Nepalgunj and BP Chow branch of Siddhartha Bank, Chisapani, Khajura, Kohalpur, Surkhet road; Nepalgunj and Rimjhim bazar branch of Kumari Bank.
Meanwhile, the foreign migrated workers of Nepal can apply for the share from all C-ASBA approved BFIs and Meroshare.
