Muktinath Krishi Company Issuing IPO Shares to Nepalese Employed Abroad from Kartik 10

Muktinath Krishi Company Limited is currently in the process of launching its Initial Public Offering (IPO) to the general public. In the initial phase of the IPO, the company intends to release 140,000 shares specifically for foreign-employed Nepalis, which constitutes 10% of the total quota allocated to the general public. This offering will commence on Karthik 10, 2080 BS, and conclude on Karthik 24, 2080 BS.

Foreign-employed Nepalis who are interested in participating can apply for a minimum of 10 shares and a maximum of 1,000 shares.

It's worth noting that the Securities Board Of Nepal (SEBON) granted approval for this IPO on Ashwin 10, 2080 BS. The company initially submitted its application for a public offering on Falgun 20, 2078 BS. The company can only proceed with the sale of shares to the general public once it has obtained the necessary regulatory approval from SEBON.

Following the first phase, the company intends to offer an additional 1,260,000 shares to the general public in the second phase of the IPO. This will bring the total number of shares offered in the public offering to 1,400,000. The shares are valued at a par value of Rs 100 each, resulting in a total IPO value of Rs. 14 crores.

To manage and facilitate the IPO, Muktinath Krishi Company has appointed NIMB Ace Capital Limited as the issue and sales manager, and an agreement has already been finalized between the company and NIMB Ace Capital for this purpose.

ICRA Nepal has reaffirmed its issuer rating for Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced as ICRA NP Issuer Rating Double B minus). This rating indicates that issuers with this standing are associated with a moderate level of risk regarding their ability to meet their financial obligations on time.

Muktinath Krishi Company is an affiliated entity of Muktinath Bikash Bank, which was established in 2075. Its primary mission is to assume a pivotal role within the comprehensive agricultural value chain through initiatives like "Krishak sanga Muktinath" and "Upabhoktaa sanga Muktinath." These endeavors are geared towards enhancing Nepal's agricultural economy. The company is actively engaged in providing goods and services across more than 70 districts nationwide, utilizing a network of over 200 distribution channels and Agricultural Resource Centers.