Last day to apply for IPO of Modi Energy

May 07, 2023 08:56 AM Merolagani

Today is the last day to apply for initial public offering (IPO) of Modi Energy.

The company is issuing the IPO to the general public from May 2.

The company had allocated 15 percent of its issued capital of worth Rs 2.90 billion which is 1,350,000 units of shares to the general public. Out of which, it allotted 435,000 to foreign migrated workers of Nepal, 217,500 to mutual funds and 87,000 to employees.

The general public can apply for 5,995,420 units including the unsubscribed 2,095,610 units from the issue issued to locals of affected area.

Interested investors can apply for a minimum of 10 and maximum of 100,000 units of shares.

Infomerics Credit Ratings Nepal has assigned BB rating to tihe issue indicating moderate risks.

The company has appointed Sunrise capital as its issue manager. The investors can apply from all C-ASBA approved BFIs and meroshare.

 

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