The company started issuing the right shares to its existing shareholders from September 8. Now the issue will close on October 12.
The company is issuing 7 million units of right shares worth Rs 700 million at a ratio of 1:1.
The company closed its book on August 11, thus, the shareholders registered in its book till August 10 will be eligible to apply for the right shares.
Care Ratings Nepal has assigned BB- rating to the issuer indicating moderate risks.
The company has appointed Prabhu Capital as issue manager. The investors can apply from the issue manager as well as Besishahar (Lamjung), Pokhara, Birgunj, Illam, Butwal, Surkhet and Dhangadhi branch of Prabhu Bank.
Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has paid-up capital of Rs 700 million which will reach Rs 1.40 billion after the right issue.
The company will repay bank loans from the funds collected through right issue.
