The company obtained approval of issuing 30 percent ordinary shares of its issued capital worth Rs 600 million. Accordingly, it will issue 1.8 million units of shares worth Rs 180 million. Previously, it issued 10 percent i.e. 180,000 units of shares worth Rs 18 million to foreign migrated workers. It also allotted 54,000 units to employees and 90,000 units to mutual funds.
Now after completing the allotment , the company is issuing 1,476,000 units to the general public.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units. The issue will close early on March 16 and lately on March 25.
The company has appointed Prabhu Capital as issue manager. The applicants can apply from all ASBA approved BFIs and Meroshare.
Care Rating Nepal has assigned BB- rating to the issuer indicating moderate risks.
The project cost is Rs 1.26 billion. The company has already spent Rs 975.4 million and outstanding payment of Rs 290.9 million. The payback period is 7.15 years and discounted payback period is 9.75 years.
