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 already issued 1 percent i.e. 163,125 units to locals of affected area of Rupandehi and Palpa and 309,938 units to foreign migrated workers of Nepal. Similarly, it allocated 154,969 units shares to mutual funds.
Now in the second phase, the company is issuing 2,510,493 units of shares worth Rs 251 million to the general public.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares. The issue will close early on October 15 and lately on October 26.
ICRA Ratings Nepal has assigned highly risky rating to the issuer.
The company has appointed Nabil Investment Banking as issue manager. The interested investors can apply from all C-ASBA approved BFIs and Meroshare.
