Modi Energy Limited, has opened its IPO sale to Nepalis working in foreign and local employment. The sale for Nepalis working abroad will close on Tuesday (Chaitra 9), while locals can apply until Chaitra 16. The company has issued 29 lakh shares worth Rs 290 million, which is 10% of the total capital. The residents of certain wards in Kushma municipality and Modi rural municipality can apply for the IPO. The IPO price is set at 100 Nepalese rupees per share for the general public, with a total of 4.35 million shares available, representing 15% of the total capital.
Nepalese citizens who have worked abroad and are currently employed overseas can apply, with a minimum of 10 and a maximum of 100,000 shares. Applications can be made at Sunrise Capital's sales management office, and the IPO is being managed by Sunrise Capital's sales management team. Infomerics Credit Rating Nepal Limited has provided an "IRN Double B Plus" rating to bear the financial responsibility of the company.
Published by Sunrise Capital on 2079-12-09