The company is issuing 30 percent shares of issued capital worth Rs 2.85 billion. Accordingly, it will issue 8,550,000 units of shares worth Rs 855 million to the general public.
Out of the total approved units, the company is issuing 2,850,000 units worth Rs 285 million to the locals of affected area. The company is issuing 1,852,500 units to the most affected area of ward no 1,2 and 4 of Bungal Municipality, Bajhang District of Far-Western Province and remaining 997,500 units to ward no 3,5,6,7,10 and 11 of Bungal Municipality.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares. Now, the issue will close on April 20.
ICRA Nepal has assigned BB- rating to the issuer indicating moderate risks.
The company has appointed Laxmi Sunrise Capital as issue manager. The interested local investors can apply from Chainpur branh of Laxmi Sunrise Bank and Bajhang branch of Global IME Bank, Rastriya Banijya Bank and Agriculture Development Bank as well as Power House of the company at Birabagar, Bungal Municipality.
