The company is issuing 14,764,000 units of shares worth Rs 1.47 billion at a ratio of 1:1.
In this regard, the company closed its book on August 1, thus, the shareholders registered in its book till July 31 will be eligible to apply for the right share.
Informatics Credit Rating has assigned B- rating to the issuer indicating moderate risks.
The company has appointed Citizens Capital as issue manager. The interested existing shareholders can apply for the shares from Kumaripati, Thimi, Biratnagar, Birtamod, Birgunj, Surkhet, Janakpur, Nepalgunj, Narayangadh, Dhangadhi, Pokhara, Butwal and Hetauda branch of Citizens Bank International. Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has a paid-up capital of Rs 1.47 billion that will reach Rs 2.95 billion after the right issue.
The company will repay banking loans with the funds collected from the right issue.
