The company obtained approval to issue 20 percent of issued capital Rs 1.63 billion as IPO to the public. Accordingly, it will issue 3,262,500 units of ordinary shares worth Rs 326.2 million.
Out of total approved units, the company is issuing 1 percent i.e. 163,125 units to locals of affected area of Rupandehi and Palpa.
Similarly, the company is issuing 309,938 units shares worth Rs 30.9 million to foreign migrated workers of Nepal.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares.
The issue will close early on September 10 and lately on September 25 for locals of affected area. Similarly, the issue will close early on August 31 and lately on September 10 for foreign migrated workers.
ICRA Ratings Nepal has assigned highly risky rating to the issuer.
The company has appointed Nabil Investment Banking as issue manager. Locals of affected area can apply from Tansen, Palpa and Forsatiker branch of Nabil Bank and NMB Bank as well as Tansen and Palpa Branch of Global IME Bank.
Foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
