Kasturi Pharmaceuticals, which has a paid-up capital of Rs 500 million, is going to issue shares of Rs 14 each to its founding shareholders.
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Reliable Capital has been appointed as the issuer and sales manager of Kasturi Pharmaceuticals' initial public offering (IPO). An agreement has been signed between Kasturi Pharmaceuticals and Reliable Capital for this.
Kasturi Pharmaceuticals, which has a paid-up capital of Rs 500 million, is going to issue shares of Rs 14 each to the founding shareholders. Similarly, it is going to issue 1.6 million units of IPO worth Rs 160 million to the general public. For which, an application is going to be submitted to the Securities and Exchange Board of Nepal (SEBON) by Chaitra 15. After that, the total paid-up capital of the company will be Rs 800 million. Reliable Capital Investment and Merchant has been appointed as the sales manager for this task.
The company has already done a credit rating with Infomerics Nepal for the IPO. In which the company has received a BB minus rating. The rating shows that the company's financial condition is strong and risk is low.
Kasturi Pharmaceuticals Ltd., established as the first pharmaceutical industry in Bharatpur, Chitwan, has been producing medicines for the past 13 years. The industry, spread over an area of about 1 bigha 10 katta, produces medicines and sends its medicines to sales depots across the country. This company has currently obtained production licenses for more than 182 medicines and is selling more than 125 medicines in the market.
