Kathmandu, May 27
Kantipur Pharmaceuticals Lab Limited is set to issue
its Initial Public Offering (IPO).
It signed an agreement with Elite Capital Limited for the underwriting of the
shares on Tuesday.
A formal agreement
was signed between the capital and the company for the same. The agreement was
signed by Navaraj Paudel, Managing Director of Kantipur Pharmaceuticals, and
Dinesh Acharya, Executive Chairman of Elite Capital.
Elite has
underwritten 1.7 million ordinary shares worth Rs. 170 million. Kantipur has a
paid-up capital of Rs. 630 million.
Kantipur
Pharmaceuticals has submitted an application to the Securities Board of Nepal
(SEBON) – the capital market regulator, to issue the IPO. Muktinath Capital is
acting as the issue manager.
The shares will be
issued at a face value of Rs. 100 per unit.
Established in
2018, the company is engaged in research, production, and distribution of
veterinary medicines and nutritional supplements for animals and birds.
Currently, the
company has received production approval for 61 pharmaceutical products from
the Department of Drug Administration. Among them, 13 products have obtained
marketing authorisation and are currently being sold in the Nepali market.
The company said that
the process is ongoing to obtain marketing authorisation for the remaining
products. Additionally, the company is also producing and distributing 21 other
nutritional supplements.
Published in The Rising Nepal daily on 28 May 2025.
No comments:
Post a Comment