The company is issuing 10 percent ordinary share of its issued capital worth Rs 880 million to the locals of affected area. Accordingly, it will issue 880,000 units of shares to them.
The locals of affected area of Illam District, Illam Municipality ward no 10 (ward on 1-10 of former Godak VDC), Maijokmai Rural Municipality ward no 1 (ward no 1-4 and 6-9 of former Naya Bazar VDC), Maigojmai Rural Municipality ward no 3 and 4 (former ward no 1-9 of Namsaling VDC and ward no 5 of Nayabazar VDC), Suryodaya Municipality ward no 10 (former ward no 6-9 of Fikkal VDC) and Suryodaya Municipality ward no 1 (former ward no 2,6,8 of Panchakanya VDC).
Similarly, the company is issuing 10 percent of the general public quota i.e. 291,000 units shares worth Rs 29.1 million to foreign migrated workers of Nepal.
Interested investors can apply for a minimum of 10 and maximum of 20,000 units of shares.
Care Ratings Nepal has assigned BB+ rating to the issuer indicating average risks.
The company has appointed Nepal SBI Merchant Banking as issue manager. Locals of affected area can apply for the shares from project site, all C-ASBA approved BFIs and Fikkal branch of Nabil Bank.
Similarly, the foreign migrant workers can apply from all C-ASBA approved BFIs and Meroshare.
