Jay Ambe Steels Limited Partners with NIMB ACE Capital for IPO Issuance

Jay Ambe Steels Limited, a prominent steel manufacturer in Nepal, has partnered with NIMB ACE Capital Limited to issue shares to the public through an Initial Public Offering (IPO).

The specific number of shares will be approved during the company's AGM/SGM. Established in 2019, Jay Ambe Steels operates the largest steel factory in Western Nepal, located in Banke District, with a production capacity of 1,000 tons per day and supplying 80% of the regional market under the "Ambe" brand.

The company, owned by the Ambe Group, produces various construction materials, including TMT steel and MS products.

With an annual turnover exceeding $300 million, Jay Ambe Steels aims to raise capital for expansion and increased production capacity, contributing significantly to Nepal's construction sector and reducing reliance on steel imports. The partnership agreement was signed in the presence of representatives from both organizations.