The company is issuing 3,163,000 units of right shares worth Rs 3.1 million at a face value of Rs 100 per unit to its existing shareholders.
The company closed its book on June 16 for the right issue, thus, the shareholders registered in its book till June 15 will be eligible to apply for the right share.
Care Ratings Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed Prabhu Capital as issue manager. The interested shareholders can apply from Illam, Jawlakhel (Lalitpur), Birgunj, Pokhara, Butwal, Surkhet and Dhangadhi branch of Prabhu Bank. Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has a paid-up capital of Rs 632.6 million that will reach Rs 948.9 million after the right issue.
