Although the company closed the IPO on September 10, due to extreme difficult situation of the country on the day halted the application process. Thus, the company extended the deadline by two days on September 15 and 16, said the company.
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.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares.
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.
