The company obtained approval of issuing 3,950,000 units of ordinary shares worth Rs 395 million at a face value of Rs 10 per unit which is 38.33 percent of its issued capital.
Out of the total approved units, the company already allocated 1,030,500 units of shares worth Rs 103 million to locals of the affected area and 291,950 units shares worth Rs 291.9 million to foreign migrated workers. Similarly, it allotted 58,390 units to employees and 145,975 units to mutual funds.
Now in the second phase, the company is issuing 2,423,185 units of shares worth Rs 242.3 million to the general public.
Interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares.
The issue will close early on August 4 and lately on August 14.
Informetric Credit Rating Nepal has assigned BB- rating to the issuer indicating moderate risks.
The company has appointed Laxmi Sunrise Capital as issue manager. the interested investors can apply from all C-ASBA approved BFIs and Meroshare.
