Jay Ambe Steels Ltd, a leading steels industry, has partnered NIMB ACE Capital to issue shares at premium to the public through Initial Public Offering (IPO).
The number of issuing shares will be approved through the annual general meeting and special general meeting, according to the company.
Jay Ambe Steels was established in 2019 as the most modern steel factory in Nepal with a production capacity of 1,000 tonnes per day.
As the largest steel factory in Western Nepal, it supplies 80 percent of the region’s market under the ‘Ambe’ Brand. Located in Banke district in Nepalgunj the production plant produces construction materials, including steel and bars, such as TMT steel, MS billet, MS flat, MS Square, Torkari, and Gabion Boxes.
The company is owned by Ambe Group, one of the largest conglomerates in Nepal, with a total yearly turnover exceeding $300 million. Jay Ambe Steels is the second steel company under Ambe Group. The chairman of the company is Shovakar (Hari) Neupane.
Jay Ambe Steels provides high-quality and reliable construction materials that meets customer needs and has significantly contributed to the strengthening of Nepal’s construction sector while also reducing the need for steel imports, claims the company.
The company plans to raise capital in the public debt market in order to fund the expansion and production capability.
Though the agreement was signed in the presence of the authorities from both the organisation, they have not declared the price as how much premium will be added in the face value of Rs 100 per share.

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