NRN Infrastructure and Development Limited is going to issue an IPO worth around Rs. 34 Crore. The company has published a statement on July 24th to issue an IPO equal to 30 percent of the current issued capital of Rs 132600000 or Rs 339846000.
The company has started issuing a total of 33,98,046 ordinary shares at the face value of Rs 100 per share since July 31. Out of the 33,98,046 shares to be issued by the company, 5 percent or 1,69,902 ordinary shares have been allotted for the collective investment fund and 2 percent or 67,961 shares have been reserved for the employees. The general public will be able to apply for the remaining 3160183 lots.
A minimum of 10 lots and a maximum of 3160180 Units can be applied for the purchase of the shares. The eviction shutdown will take place on August 5 at the earliest and on August 19 at the latest.
The issue and sales manager of the company is Sanima Capital Limited. Investors can apply from all ASBA member banks and financial institutions and their branch offices approved by the Nepal Securities Board. Apart from this, the application can also be made through MeroShare software.
Credit rating agency Care Ratings Nepal has given Care NP IPO grade 4 rating to the IPO that the company is about to issue. This indicates that the company’s fundamentals are weaker than average.
By FY 2075/76, the company’s net worth per share was Rs 102.06, and earnings per share was Rs 2.4. The company had earned an accumulated profit of Rs 16.3 million in the same period.
Similarly, the company has projected to earn accumulated profit of Rs. 24.170 million by the end of the Fiscal Year 2076/77. Accordingly, the company has projected a net worth of Rs 102.13 per share and earnings per share of Rs 2.4.
“NRN Infrastructure and Development Limited (NRNIDL) was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment in the hydropower sector in initial phase meanwhile exploring other investment avenues of national priorities too. Initially, the company was registered in the name NRN Investment Limited which was changed to NRN Infrastructure & Development Limited in February 2, 2017.
With liberalization in the state policies that allow private investors to build and operate hydropower projects and in the context of high demand for power in the country, a significant development as expected of the energy sector is yet to happen. Investment in this sector was highly awaited. At the very outset, with the major objective to mobilize the knowledge, skills, capital and other resources for the socio-economic development of Nepal in co-operation with the government, “NRN Infrastructure and Development Limited was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment for a swift and smooth inflow of capital investment in prioritized sectors in Nepal.
The registered office of the company is located in Kathmandu, Nepal. The objective of the company is to make an investment in the development sectors such as the hydropower sector thereby contributing to the overall development of Nepal.
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