The company is issuing the FPO to raise proportion of ordinary shares to 30 percent in its capital structure under section 9 of Bank and Financial Institution Act 2073.
The company is planning to issue 51,292.5 units of ordinary shares worth Rs 5.1 million at a face value of Rs 100.
Interested investors can apply for a minimum of 10 and maximum of 1,000 units of shares till April 8. Its deadline can be extended till April 17 if the issues goes undersubscribed.
Care Ratings Nepal has assigned B rating to the issuer indicating high risks.
The company has appointed Nepal SBI Merchant Banking as issue manager. Investors can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has appointed paid-up capital of Rs 79.2 million that will reach Rs 84.3 million after the FPO.
