SEBON Adds 13.75 Lakh IPO Shares of Nepal Warehouse Company in Pipeline

The Securities Board of Nepal (SEBON) has added the Initial Public Offering (IPO) of the Nepal Warehouse Company Limited (NWCL) to its pipeline for approval.

The company is seeking to issue 1,375,000 unit shares at a par value of Rs 100 per share. The application was submitted to SEBON on Poush 22, 2079. The IPO issue will raise a total of Rs. 137,500,000. After the issuance of ordinary shares to the general public the paid-up capital of the company will reach to Rs. 80 crores.

Himalayan Capital has been appointed as the issue manager for the IPO issuance.

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.