The company obtained approval to issue 20.7067 percent of issued capital Rs 2.83 billion as IPO to the public. Accordingly, it will issue 5,860,000 units of ordinary shares worth Rs 286 million.
Out of total approved units, the company already issued and allotted 566,000 units to locals of affected area and 259,400 units to foreign migrated workers of Nepal. Similarly, it also allotted 158,820 units to employees and 264,700 units to mutual funds.
Now in the second phase, it is issuing 4,341,800 units worth Rs 434.1 million to the general public.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares. The issue will close early on August 31 and lately on September 10.
Care Ratings Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed Nepal SBI Merchant banking as issue manager. Interested investors can apply from all C-ASBA approved BFIs and Meroshare.
