Hathway Investment Nepal To Issue 292,500 IPO Shares To Nepalese Citizens Working Abroad From Shrawan 04

Wed, Jul 12, 2023 11:25 AM on IPO/FPO News, Latest,

Hathway Investment Nepal Limited has published an offer letter to issue an Initial Public Offering (IPO) to Nepalese citizens working abroad.

The company will be issuing 292,500 unit shares from 4th Shrawan to Nepalese Citizens working aboard. The closing date of this issue is on 18th Shrawan, 2080.

The issued capital of the company is Rs. 1.17 Arba of which 12.5% i.e. 29,25,000 unit shares will be issued to the public (Nepalese citizens working abroad and the general public). Out of this total issue, 10% i.e. 292,500 unit shares have been allocated for Nepalese citizens working abroad, the issue of which will open from Shrawan 04.

Whereas 2% of the total offered shares i.e. 58,500 units have been set aside for the employees of the company and 5% or 146,250 units have been set aside for the mutual funds. The remaining 24,27,750 units will be issued later to the general public.

The issue will raise Rs. 14.62 crores for the company since each share will be issued at a face value of Rs. 50 per share. The current paid-up capital of the company is Rs. 1.02 Arba which will reach Rs 1.17 Arba after IPO allotment.

Global IME Capital Limited has been appointed as the issue manager. Applications can be placed for a minimum of 20 units and a maximum of 100,000 units.

Hathway Investment Nepal Limited is an investment company, registered as a public company in 2009 and commenced its operation in 2011. Hathway invests/trades in various listed, unlisted securities, and real estate, among others. The company’s registered and corporate office is in Hathway Complex, Lainchaur, Kathmandu.

ICRA Nepal has assigned a long-term rating of [ICRANP] LBBB- (pronounced ICRA NP L triple B minus) to the long-term bank limits and reaffirmed the short-term rating of [ICRANP] A3 to the short-term bank limits of Hathway Investment Nepal Limited. ICRA Nepal has also reaffirmed the issuer rating of the company at [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus).

Offer Letter