Jay Ambe Steels Limited Calls AGM on Poush 26, Major Agenda To Issue IPO

Jay Ambe Steels Limited called its AGM on 26th Poush, 2080. The meeting will be held in the Company Corporate Office, Teku, Kathmandu.

Among the other agendas, there is an agenda for issuing ordinary shares to the general public.

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. There is an agenda regarding the formation of a board of directors, increasing the authorized capital of the company, and electing a representative to sign the minutes of the Annual General Meeting.

Jay Ambe Steels Limited (JSL) stands as one of the fresh major contenders in the iron and steel product manufacturing sector. It was founded in 2017. The corporation is backed by the Ambe Group and operates its plant in the Banke district. Moreover, the Group runs an active steel manufacturing facility (since 2008) known as Ambe Steels Private Limited in Bhairahawa. Established in 1982, the Group holds a prominent position among Nepal's manufacturing conglomerates.

JSL serves as a secondary steel producer for TMT bars, binding wires, and GI wires, all under the renowned brand name Ambe Steels. JSL has established its billet manufacturing unit essential for TMT production. The primary raw materials, pig irons, and sponge irons are sourced from India, while scrap is acquired from the local market.

The company is jointly owned by the Neupane, Agarwal, and Poudyal families. Mr. Shovakar Neupane holds the dual role of Chairman and Managing Director of the company.

AGM Notice: