Kathmandu, July 15
Mangalam Industries Limited (MIL) has secured an
investment of approximately Rs. 380 million from Avasar Equity Diversified
Fund, a leading private equity fund committed to backing high-growth
enterprises in Nepal.
Issuing a press statement on Tuesday, MIL said that
this strategic investment marked a significant milestone in the growth journey
and reflected strong investor confidence in the company’s vision, capabilities,
and long-term potential.
"The infusion of capital is believed to empower
MIL to strengthen operations, enhance product innovation, and expand its market
presence across Nepal and beyond," read the statement.
According to the company, the Investment will
primarily be utilised to strengthen the balance sheet of the company, improve
operational efficiencies, and further its commitment to sustainability and
excellence, reads the press release.
“We are delighted to welcome Avasar as a strategic
partner in our journey of transformation,” says Abhinav Churiwal, CEO of MIL.
He further said that this partnership reaffirms
Mangalam Industries’ commitment to delivering long-term value while creating a
positive impact in the communities it serves.
MIL is a leading manufacturing company in Nepal
producing CPVC pipes and fittings and the only exporter of a complete range of
CPVC products from the country.
Its product portfolio includes solutions for plumbing,
drainage, sewage and rainwater management, water supply, electrical conduit
systems, and borewell applications.
Avasar Equity Diversified Fund is Nepal’s first
domestic Private Equity Fund registered with the Securities Board of Nepal
under the Specialised Investment Fund Regulation, 2019.
Published in The Rising Nepal daily on 16 July 2025.
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