SEBON Adds IPO Proposal of Ambe Steels Limited To Its Pipeline

Ambe Steels Limited submitted a proposal to the capital market regulator on Kartik 07, 2081, seeking approval to issue 11,192,727 shares at a premium price of Rs. 303 per share.

The offering aims to raise Rs. 3.39 Arba from local and general investors. Nabil Investment Banking Limited has been appointed as the issue manager for this public offering.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN BBB- (Triple B Minus), indicating a moderate level of safety for timely financial obligation servicing and moderate credit risk. Additionally, the long-term bank facilities of NPR 2,390.65 million have been rated IRN BBB-, while the short-term bank facilities of NPR 4,048.00 million have been rated IRN A3.

Ambe Steels Private Limited, part of the Ambe Group, was established on August 26, 2007, and rebranded as Ambe Steels Limited (ASL) on October 19, 2023. Its manufacturing plant in Gonaha VDC, Bhairahawa, Nepal, produces TMT Steel Bars (144,000 MTPA), Billets (120,000 MTPA), GI wires (14,400 MTPA), and Gabion boxes (3,000,000 sq. m.). As of May 2024, the major shareholders include Mr. Shovakar Neupane (24%), Mr. Shivaj Neupane (18%), Sajjan Agrawal (12.50%), and Ms. Shivani Neupane (11%).