Everest Color Limited to Issue IPO Shares to the Public, Appoints Muktinath Capital as Issue Manager

Everest Color Limited is set to issue its first Initial Public Offering (IPO) of 780,000 ordinary shares at NPR 50 each, raising NPR 3 Crore 90 lakhs. Muktinath Capital has been appointed as the IPO sales manager, marking a first for the paint industry in Nepal. The agreement was signed by Everest Color's Managing Director, Mr. Saroj Luitel, and Muktinath Capital's CEO, Mr. Kabindra Dhoj Joshi.

Established in 2068, Everest Color specializes in producing high-quality paints tailored to Nepal's climate. Certified with ISO 9001:2015, the company uses advanced international technology and raw materials to manufacture a range of products, including emulsion paints, primers, enamel paints, and industrial coatings.

With a CARE-NP BB- rating, the company aims to replace imports, create jobs, and contribute to Nepal's economy. Currently, Everest Color distributes its products through over 200 business partnerships from Fidim in the east to Dhangadhi in the west, solidifying its position in Nepal's paint market.