The company is issuing 4 million units of right shares worth Rs 400 million at a ratio of 1:1.
In this regard, the company closed its book on February 13, thus, the shareholders registered in its book till February 12 will be eligible to apply for the right shares.
The issue will now close on May 11.
Informerics Credit Rating Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed NIC Asia Capital as issue manager. The interested existing shareholders can apply from the issue manager as well as company’s office at Panipokhari, Maharajgunj, project site office at Thaprek, Nuwakot and branch offices of NIC Asia Bank at Biratnagar, Birgunj, Narayanghat, Pokhara, Butwal, Nepalgunj, Dhangadhi and Surkhet. Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has paid-up capital of Rs 400 million which will reach Rs 800 million after the right issue.
