The company that issued the IPO on September 5 previously announced closure of IPO on September 9. However, due to extreme unfavorable condition of the country, the company extended deadline by one day till today.
The company is issuing 380,190 units of ordinary shares worth Rs 38 million with face value of Rs 100 to locals of affected area. Out of the total units, the company has allocated 190,095 units to locals of affected area and 57,029 units of ordinary shares to foreign migrated workers of Nepal. Similarly, it allocated 28,514 units to mutual funds and 11,406 units to employees.
Now in the second phase, the company is issuing 473,336 units of shares worth Rs 47.3 million to the general public.
Interested investors can apply for a minimum of 10 and maximum of 5,000 units of shares.
ICRA Nepal has assigned B- rating to the issuer indicating huge risks.
The company has appointed Himalayan Capital as issue manager. The interested investors can apply from all C-ASBA approved BFIs and Meroshare.
