Previously, the IPO which was supposed to open on September 14, however, it was postponed due to unfavorable condition caused by Gen Z movements.
The company is issuing 40 percent ordinary shares of its issued capital of Rs 1.30 billion. Accordingly, it will issue 5,232,548 units of shares worth Rs 523.2 million to the general public.
Out of the total offered units, the company is issuing 2 percent i.e. 261,629 units of shares worth Rs 26.1 million to the locals of affected area of all wards of Ratna Nagar Municipality of Chitwan District.
Similarly, it is issuing 10 percent i.e. 497,092 units of shares worth Rs 49.7 million to foreign migrated workers of Nepal. Moreover, the company has secured 149,127 units to employees and 248,546 units to mutual funds.
The interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares.
The company has not fixed closure date.
ICRA Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed Prabhu Capital as issue manager. The locals of affected area can apply from SY Panel Nepal at Ratna Nagar, Chitwan, Prabhu Capital, Kamaladi and its online link as well as Sauraha and Tandi Branch of Prabhu Bank.
Meanwhile, the foreign migrated workers of Nepal can apply from all C-ASBA approved BFIs and Meroshare.
