The company is issuing 35 percent ordinary shares of issued capital worth Rs 1.40 billion. Accordingly, it will issue 4.9 million units of shares worth Rs 490 million to the general public.
Out of the total approved units, the company is issuing 1.4 million units of shares worth Rs 140 million to the locals of affected area. Out of that, the company will issue 910,000 units to the most affected area of ward no 4 and 5 of Kedarshew Rural Municipality, ward no 6 and 8 of Bitthadchir Rural Municipality, ward no 3,4,5,6 and 8 of Bungal Municipality of Bajhang District, ward no 1 and 2 of Dilasaini Rural Municipality of Baitadi District and ward no 1 of Shailashikar Municipality of Darchula District. Similarly, it will issue the remaining 490,000 units to non- affected areas of all sards of Kedarsyu Rural Municipality, Bithadchir Rural Municipality and Bungal Municipality of Bajhang District, Dilasaini Rural Municipality of Baitadi District and Shaileshikhar Municipality of Darchula District.
Similarly, the company will also issue 10 percent of general public quota i.e. 350,000 units shares worth Rs 35 million to foreign migrated workers.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares. The issue will close early on April 7 and lately on April 22 for locals of affected area. For the foreign migrated workers, the issue will close early on March 29 and lately on April 7.
Care Ratings Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed Sanima Capital as issue manager. The interested local investors can apply from the office of issue manager and project site as well as Kedarshew branch of Nepal Investment Mega Bank, Jayaprithwi Rural Municipality-10, Bajhang, Gokuleshwor, Shaileshikhar-9, Darchula branch of Global IME Bank, Chabispathivara Municipality, Bajhang, Dilasini, Rural Municipality, Baitadi branch of Kumari Bank and Bungal Municipality-4, Bajhang branch of Agriculture Development Bank.
Meanwhile, the foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
