Upakar Microfinance Financial Institution Limited has opened sale of ordinary shares (IPO)to the public. The company has opened the sale of 236,250 initial public offerings (IPOs) at a face value of Rs.100.

The company has issued 0.5 percent of the issued capital or 3,281 shares to the employees and five percent of the issued shares or 11,813 shares to the collective investment fund. The public can apply for the purchase of the remaining 221,156 shares.

The public will be able to apply for a minimum of 10 lots and a maximum of 1000 lots till April 12, but if the demand is not received by that time, the eviction will be open till April 22, the company said.

Nepal SBI Merchant Banking Limited has been selected as the manager of securities issuance and sale.

ICRA Nepal Limited has given ‘ BB Minus’ grading to the company while rating the securities as per the provision of credit rating during public issue of securities.