Modi Energy is issuing IPO shares to Nepalese working abroad & Parbat District residents from Falgun 25
The project-affected residents of Parbat District as well as Nepalese employees working abroad can apply for modi energy’s IPO. An offer letter from Modi Energy Ltd to participate in an Initial Public Offering (IPO) is published now.
The initial public offering (IPO) for residents and Nepali nationals working abroad will start on 25 Falgun. And it’s close on 9 Chaitra in 2079. Remember that for Parbat District residents, the issue can extend till the 24th Chaitra if the early closing date is not met. The issue, though, won’t continue through the early closing date for Nepalese nationals who are employed abroad.
10%, or 29,00,000 unit shares worth Rs. 29 crores, of the company’s Rs. 2.9 Arba in issued capital have allot to Parbat District residents who will impact by the project.
In the meantime, 43,50,000 unit shares, or 15% of the company’s outstanding capital, will eventually be made available to the general public. 10% of the shares, or 435,000 units, of this public offering, have been designated for Nepali nationals working abroad; the offering will begin on the aforementioned date.
The minimum application quantity to apply is 10 units, and the maximum amount is 1000 units for locals. In contrast, the minimum application quantity to apply is 10 units, and the maximum quantity is 100,000 units for Nepalese people working abroad.
The issue manager is Sunrise Capital Ltd.
The Issuer Rating of Modi Energy Limited has changed from “CARENP BB+ (Is)” to “CARE-NP D (Is)” by CARE Ratings Nepal Ltd (CRNL). This grade indicates that an issuer is currently in default or soon will be.
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