Emerging Nepal Limited has opened IPO issuance and sale since 2022 February 9 (Magha 26, 2078). The company has issued 555,600 IPOs worth Rs 55.56 million.
Emerging Nepal has secured 2 percent or 11 thousand 112 shares out of the total 555,000 shares issued to the employees and 5 percent or 27 thousand 780 shares to the collective investment funds. The general public will be able to apply for the remaining 516,708 shares.
Applications for the IPO can be submitted as early as Falgun 1 and as late as Falgun 11. Investors will be able to apply for a minimum of 10 units to 1000 units.
The IPO issue and sale manager is NIC Asia Capital Limited. Interested applicants can apply through C-ASWA Member Banks and Financial Institutions and MeroShare website and app.
ICRA Rating Nepal has given Ecra NP IR Double B Plus rating to Emerging Nepal in its credit rating for IPO issue. This indicates that there is a moderate risk in fulfilling financial obligations on time.
At present, the paid up capital of Emerging Nepal is Rs. 504 million. The paid up capital of the company will reach Rs. 555.6 million after the IPO allotment.
Overview about Emerging Nepal Limited:
Emerging Nepal Limited was registered as a public company in the office of the Registrar of Companies as per the prevailing law as a public private partner company on the 32nd of Shrawan, 2072, and has been doing business under the Companies Act, 2063 since the 26th of Chaitra, 2072.
The Registrar's Office of the Company is located at Kathmandu Metropolitan City Ward No. 10, New Baneshwor, Kathmandu. The company will be able to open offices in other places with the permission of the concerned body.
The company, which is also invested by the Government of Nepal and the Ministry of Finance, has been working on the construction and development of infrastructure.
The company has issued 55,600 shares equal to 10 percent of the issued capital of Rs 555.6 million or Rs 55.56 million as per the provisions in the management letter and rules.
The company has stated that it has to issue IPO in order to raise the required capital for the works to be done in accordance with the objectives mentioned in the management letter and rules of the company, and to expand the scope of business of the company to the general public.
Out of the Rs 55.56 million raised through IPO, the company has stated that it will invest Rs 20 million in the economic infrastructure sector, Rs 30 million in the energy sector and Rs 5.56 million in various sectors as per the company's objective.
