Muktinath Krishi Company Issuing IPO Shares to Nepalese Employed Abroad from Kartik 10; First Agriculture Company to Issue IPO

Muktinath Krishi Company Limited has published an offer letter to issue an Initial Public Offering (IPO) to Nepalese citizens working abroad. This is the first company from the agriculture sector to issue an IPO.

The IPO issue for Nepalese citizens working abroad will open from the 10th of Kartik till the 24th of Kartik, 2080. Note that the issue will not be extended from the early closing date for Nepalese citizens working abroad.

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 open on the date mentioned above.

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

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.

Offer Letter