Kathmandu. The last date to apply for the IPO is February 11. The company has issued the IPO for the general public after allocating the IPO for the local residents of the project-affected areas and the Nepalese employed abroad.
The company was allowed to issue 20% of the issued capital of Rs 1.55 billion i.e. 3.1 million units of shares. Out of the total offered shares, 15,50,000 units have been set aside for the locals of the project affected area and 1,55,000 units for the Nepalese working abroad. Similarly, the company has already allotted 77,500 units of shares to mutual funds.
In the second phase, the company has allotted 31,000 units of ordinary shares to its employees and the remaining 12,86,500 units of ordinary shares worth Rs 100 per share worth Rs 12,86,50,000.
Applications can be place for minimum 10 units and maximum 1,000,000 units.
Care Ratings Nepal has assigned CareNP Double B Issuer rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for the ASBA service from the banks and financial institutions participating in the ASBA system after taking permission from the Securities Board of Nepal (SEBON).
