Kathmandu. Makalu Wine Industries Limited, the first wine industry in Nepal, is all set to issue an initial public offering (IPO) to the general public. The company will issue 20% of its issued capital at Rs. The government has started the process of issuing 1 million units of shares with a face value of Rs 100.
Reliable Investment and Merchant Capital Limited has been appointed as the issue manager for the IPO issuance. The agreement was signed by Mr. Pitambar Pokhrel, Chairman of Makalu Wine Industries Limited and Mr. Bhishma Raj Chalise, Chief Executive Officer of Reliable Investment and Merchant Capital.
Makalu Wine Industries Limited, established in 1998 in Sankhuwasabha, Dharmadevi Municipality-3, has been producing organic wine for the past 31 years from the water of the natural spring located at an altitude of 2800 meters above sea level. The company, which has been producing high quality wine through the use of modern technology, has around 20 ropanis of land of its own.
Institutional investors including Devshree Ventures, Harvest Ventures, Birtamod Sanjivani Investment and Stock Ideas Investment have also invested in the company. The company is also planning to launch three types of premium grapes in the near future.
With the IPO issuance, it is seen as an important step to connect Nepal’s organic wine industry to the capital market.
Reliable Investment and Merchant Capital Limited, a subsidiary of Reliable Nepal Life Insurance Limited, is a merchant banking company licensed by the Securities Board of Nepal to provide portfolio management, underwriting, issue management, share registration, scheme management, depository services and corporate consulting services.
