The company started issuing the IPO on July 13.
The company obtained approval to issue 35 percent ordinary shares of its issued capital of Rs 830 million. Accordingly, it will issue 2,905,000 units of shares worth Rs 290.5 million.
Out of it, it is issuing 830,824 units of shares worth Rs 83 million to the locals of affected area. Out of total shares allocated to locals of affected area, the company will distribute 65 percent of shares to the locals of most affected area of Far Western Province, Bajhang District, Bungal Municipality ward no 6 (former Pipalkot, VDC ward no 4,5, and 7) and ward no 7 (former Kafalseri VDC ward no 1) and the remaining 35 percent to locals of affected area of Bajhang District, Bungal Municipality ward no 1,2,3,4,5,8,9,10 and 11.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares.
Care Ratings Nepal has assigned B rating to the issuer indicating moderate risks.
The company has appointed Himalayan Capital as issue manager. The locals can apply from Nepal Investment Bank Mega Bank at Kedarseu-1, Agriculture Development Bank at Bungal Municipality, Global IME Bank at Jayprithwi Municipality and project site.
