The company obtained approval to issue 20.7067 percent of issued capital Rs 2.83 billion as IPO to the public. Accordingly, it will issue 5,860,000 units of ordinary shares worth Rs 286 million.
Out of total approved units, the company is issuing 566,000 units to locals of affected area. Locals of affected area of all wards of Bandipur Rural Municipality of Tanahun District, all wards of Aabukhaireni Rural Municpality, ward on 1 of Bhanu Municipality and ward no 7 of Palungtar Municipality of Gorakha District.
Similarly, the company is issuing 259,400 units shares worth Rs 52.9 million to foreign migrated workers of Nepal.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares.
The issue will close early on August 5 and lately on August 20 for locals of affected area and on August 5 for foreign migrated workers.
Care Ratings Nepal has assigned BB rating to the issuer indicating moderate risks.
The company has appointed Nepal SBI Merchant banking as issue manager. Locals of affected area can apply from the company’s office, Lower Station, Bandipur Rural Municipality ward no 4, Aabhukhairaini Rural Municipality, Bhanu Municipality ward no 1 and Palungtar Municipality ward no 7.
Foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
