Previously, the company was scheduled to issue the IPO from March 10, however, the issue was postponed due to the lockdown imposed by the government to curb the spread of coronavirus.
Out of the total offered shares, the company is issuing 33.33 percent i.e. 500,000 units to locals of affected area of Lamjung District, Dordi Ruralmunicipality ward no 6 and 7. Similarly, it is issuing 33.33 percent to remaining wards of Dordi Ruralmunicipality and ward no 11 of Besishahar Municipality. The remaining 33.33 percent is being issued to locals of affected area of other Lamjung Districts.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares at a price of Rs 100 through all ASBA approved BFIs. The issue will close on August 5.
ICRA Nepal has assigned ICRA NP IPO Grade 4 to the issue indicating below average indicators. The company has appointed NIBL Ace Capital as its issue manager.
