Earlier, the company issued 750,000 units of shares worth Rs 75 million to locals of affected area from July 30-August 28 in the first phase. The IPO was undersubscribed by 621,790 units of shares that are being added to the upcoming IPO.
The unsubscribed shares of the first phase IPO has been included in the upcoming IPO. Out of the total units of offered shares, the company has allocated 70,686 units to the employees. The general public can apply for remaining 3,463,654 units of shares.
The company has appointed Laxmi Capital as its issue manager. The interested investors can apply for a minimum of 50 and maximum of 35,000 units of shares through all C-ASBA approved BFIs and meroshare software.
ICRA Nepal has assigned Grade 5 rating to the IPO issue indicating poor fundamentals.
