Muktinath Krishi Company IPO Closing From Today For Nepalese Immigrants

Muktinath Krishi Company Limited is closing the issue of its IPO for Foreign Nepalese Immigrants today i.e. on the 24th of Kartik. The issue had opened on 10th Kartik, 2080.

The issued capital of the company is Rs. 70 Crores of which 20% i.e. 14,00,000 unit shares worth Rs. 14 Crores will be issued later for the general public. Of this public issue, 10% of the shares totaling 140,000 units shares have been allocated for Nepalese citizens working abroad, the issue of which will close today.

NIMB Ace Capital is appointed as the issue manager. The minimum application quantity to be applied is 10 units and the maximum quantity is 1,000 units.

According to CDSC, 32,883 applicants have applied for a total of 7,70,900 units. Thus, the issue has already been oversubscribed by 5.50 times so far.

ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Muktinath Krishi Company is an associate company of Muktinath Bikash Bank, the first public agricultural company established in 2075 with the aim of playing a managerial role in the overall agricultural value chain through the "Krishak sanga Muktinath" and "Upabhoktaa sanga Muktinath" campaigns, with the goal of improving Nepal's agricultural economy. The company is providing goods and services in more than 70 districts throughout the country, more than 200 distribution channels, and Agricultural Resource centers.