KATHMANDU: Divine Healthcare Limited has appointed Muktinath Capital as its issue manager to initiate the process of issuing Ordinary Shares (IPO) to the general public. Yubaraj Shrestha, Chairman of Divine Healthcare and Kabindra Bikram Dhoj Joshi, Chief Executive Officer of Muktinath Capital, signed the agreement in a formal ceremony held at the office of Muktinath Capital.
The company is going to sell 20,70,000 units of ordinary shares i.e. 20 percent of the issued capital to the general public. The company’s managing director Susanta Murarka and directors Manoj KC and Vinay Todi were also present on the occasion.
Established in 2074/7/14 B.S., Divine Healthcare Limited is a pharmaceutical company located in Bharatpur Metropolitan City-16, Bijaya Nagar, Chitwan. The company has been selling and distributing quality human medicines by obtaining registration and approval for production and marketing from the Department of Drug Administration, Ministry of Health and Population.
The company currently manufactures and distributes 67 types of medicines in the Nepali market. Among the medicines produced by the company, medicines such as Acidex, Nexofast 5 Pregex Range, etc., are being sold in significant quantities in the market. The company is also preparing to start the production of DPI (Dry Powder Inhaler) medicines for COPD (Chronic Obstructive Pulmonary Disease) patients from this month.
Spread over an area of about TAG_OPEN_span_8 1 bigha of land, the company has been operating at a profit for the last three financial years and has been operating mainly from its own capital without taking loans from banks and financial institutions. The company has a network of more than 125 distributors across the country. In addition, the company aims to use the capital received from the public issue in the expansion of new technology, development of new drugs, improvement of quality of existing medicines and research and development to make the production process more effective, safe and quality.
