The company started issuing IPO to locals of affected area and foreign migrated workers from May 20.
The company obtained approval to issue 49 percent shares of its issued capital worth Rs 909.1 million. As per the approval, it will issue 4,454,596 units of shares worth Rs 445.4 million.
Out of the total approved units, the company is issuing 909,101 units of shares worth Rs 90.91 million to the locals of affected area. Out of the total shares allocated to locals, the company is issuing 363,640 units to the most affected permanent residents of ward no 4 and 5 of Dharche Rural Municipality, Gorkha District and 545,461 units to ward no 1,2,3,6 and 7 of Dharche Rural Municipality, Gorkha District.
Moreover, the company is issuing 10 percent of approved shares i.e. 354,550 units to foreign migrated workers of Nepal.
The company has secured 70,910 units to employees and 177,275 units for mutual funds. The remaining 2,942,760 units will be issued to the general public.
Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares.
ICRA Nepal has assigned BBB- rating to the issuer indicating moderate risks.
The company has appointed Prabhbu Capital as issue manager. the locals can apply from project site, Prabhu Capital, Kamaladi, Dharche Branch of Himalayan Bank and Aarupat Branch of Prabhu Bank as well as online portal of Prabhu Capital.
Meanwhile, the foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
