The company obtained approval to issue 48.9998 percent ordinary shares of its issued capital of Rs 382.4 million. Accordingly, it will issue 1,890,530 units of shares worth Rs 189 million.
Out of it, it is issuing 385,824 units of shares worth Rs 38.5 million to the locals of affected area. Locals of affected area of Sankhuwasabha District, Madi Municipality ward no 7,8,9 and Chainpur Municipality ward no 2,3,7,8,9 can apply for the shares.
Similarly, the company is issuing 150,471 units ordinary shares worth Rs 15 million to foreign migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares.
The deadline of the issue is on July 20. However, the deadline will be extended till August 4 for locals of affected area if the issues goes undersubscribed.
ICRA Nepal has assigned B+ rating to the issuer indicating moderate risks.
The company has appointed Laxmi Sunrise Capital as issue manager. The locals can apply from Chainpur branch of Global IME Bank, Himalayan Bank at Madi Municipality, Laxmi Sunrise Bank-Khadbari and Powerhouse of project at Sankhuwasabha Madi Municipality ward no 7.
Meanwhile, foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
