Jagdamba Spinning Mills Calls AGM With Agenda to Discuss IPO Issuance And Dividend Proposal

Jagdamba Spinning Mills Limited has called its 3rd AGM on 26th Poush, 2080. The meeting will be held in Neupane Tower, Tinkune, Kathmandu, starting from 10 AM that day.

Among the other agendas, there is an agenda to distribute bonus shares of 17.4578% worth Rs. 21.70 Crores and 0.9188% of Cash dividend (including tax) worth Rs 1.14 crore from the paid-up capital of the company. The paid-up capital of the company is Rs. 1.24 Arba.

Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports, and appoint an auditor for the fiscal year 2080/81.

Also, there is an agenda for issuing ordinary shares to the general public.

ICRA Nepal has assigned a long-term rating of [ICRANP] LBB (pronounced ICRA NP L double B) to the existing fund-based long-term limits of NPR 102.6 million and the proposed fund-based long-term limits of NPR 810 million of Jagdamba Spinning Mills Private Limited (JSM). ICRA Nepal has also assigned a short-term rating of [ICRANP] A4+ (pronounced ICRA NP A four plus) to the existing short-term fund-based limits of NPR 1,730 million and the existing short-term non-fund-based limits of NPR 750 million.

Jagdamba Spinning Mills Private Limited (JSM) founded in 2005, specializes in producing fiber-based yarn products such as polyester yarn, polyester-viscose blended yarn, and acrylic yarn. Its primary office and production facility are located in Kamahariya VDC-4, Rupandehi. JSM operates under the Saurabh Group, a conglomerate engaged in diverse sectors in Nepal, spanning from cement and steel manufacturing to various trading activities. The key shareholders of JSM include Mr. Bishnu Prasad Neupane, Mr. Baibabh Neupane, Mr. Durga Prasad Neupane, and Mr. Chandra Tandan, holding stakes of 20%, 20%, 50%, and 10%, respectively, with Mr. Bishnu Prasad Neupane serving as the company's Chairman.

AGM Notice: