Muktinath Krishi Company Limited
Upcoming IPO Share Update
Muktinath Krishi Company has appointed Mega Capital as issue manager to float its Rs 4 crore worth 4 lakh unit shares to the general public. The agreement was signed between Chairman of Muktinath Agro Company Mr. Bharat Raj Dhakal and CEO of the merchant bank Mr. Sabir Bade Shrestha on Aswin 21, 2078. The company intends to float its IPO within the end of Chaitra, 2078, and will be floating further shares to the general public in the coming days, as per the media statement.
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Upcoming IPO Share Details:
- Muktinath Krishi Company Limited
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- Issue Manager: Mega Capital Limited
Muktinath Krishi Company Limited, established with the investment of more than 863 business people of Nepal including Muktinath Bikas Bank, is going to issue ordinary shares (IPO).
Founded in 2075 BS with an authorized capital of Rs. 1 billion and issued capital of Rs. 400 million, 10 percent shares (4,00,000 units) are allocated to the public.
Muktinath Krishi Company Executive Chairman Bharatraj Dhakal and Mega Capital Markets Chief Executive Officer Sabir Bade Shrestha have signed an agreement on October 7 to manage the issue of securities.
This issuance of securities will be the first for the public among the companies established with private sector investment with the intention of working in the agricultural sector. At the same time, making the agricultural sector, which has not been able to develop institutionally, more sophisticated and an investment hub, will be a cornerstone for institutional development and the arrival of other new public companies, said Dhakal.
As per the agreement, the IPO is targeted to be completed by mid-April 2022 year. Under this, 4 lakh units of IPO equal to worth Rs. 40 million will be issued to the public.
