IPO Proposal of Nepal Warehousing Company Limited Finally Approved by SEBON

The Securities Exchange Board of Nepal (SEBON) has approved the IPO issue proposal of Nepal Warehousing Company Limited on Ashwin 10, 2080.

The company will now issue 13,75,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 13.75 Crore. This is 20% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 68.75 Crores of the company. The current paid-up capital of the company is Rs. 55 crores.

Himalayan Capital has been appointed as the issue manager for the IPO issuance. The application was submitted to SEBON on Poush 22, 2079.

Nepal Warehousing Company was established under the Company Act, 2063 of Nepal to cater to the warehousing needs of the farmers, traders, millers, and businessmen who deal in the trade of grains for their commercial and industrial purposes. These actors more often face post-harvest losses, degraded quality of the product for further use, and most frequently face problems of keeping grains in a healthy environment for a long time period. In order to keep the quality of grains stored intact for a long time, the Nepal Warehousing Company Ltd has brought the solution by installing high-quality silos of 55,000 MT capacity at three different places in province number 1, province number 2, and in Lumbini province.