Nepal Warehousing Company Limited has received approval from the Nepal Securities Board on 2080.06.10 for initial public issue of 13,65,000 shares of ordinary shares at the rate of Rs 100 .
In the first phase, the company will issue 10 percent shares of the initial public offering after receiving labor approval from the relevant agencies of the Government of Nepal, and the rest will be issued separately to the general public.
So far, this company has completed the construction of warehouses with 40,000 metric ton capacity silos in Sunsari and Parsa districts and put them into operation, while a 15,000 metric ton capacity silo is being installed in Kapilvastu district, and it will also be operational by Poush month.
Among the objectives of establishing this company, the main objective is to build a food storage house and provide facilities for storing food produced by farmers in that storage house.
Needs of Farmers As the safe and scientific storage house of Wamojim is not operational yet, the farmers are forced to sell their produce in the market immediately at a cheap price. In order to solve this problem, Nepal Warehousing Company Limited aims to provide services to farmers, agricultural product collectors, food processors, industrial centers and grain producers by building food storage houses based on silo technology in three important places of the country, Sunsari, Parsa and Kapilvastu. Storage of food produced by farmers In addition to doing this, the company also aims to organize the environment and method of purchasing food through Volakwol in the premises of the storage house in all three districts in order to provide the farmers with the opportunity to get a fair price for their products. Also, the company aims to reduce the lack of capital required for housing expenses and other purchases for the farmers and food collectors. In order to avoid this, the amount of food they keep in the company’s storage house is taken as collateral and they get loans through banks and financial institutions on the basis of warehouse receipts.
The cost of the projects that are going to be operated by this company and under construction is Rs. 162.75 crores. The loan has been managed under the leadership of Everest Bank in the co-financing of Nepal SVI Bank, Himalayan Bank, Bank of Kathmandu, Krishi Bikas Bank. This company includes Nimbus Group, Shikhar Insurance, Probiotic Industries, Srinagar Agro Farm, NMB Bank, Team Ventures, TNI, Nifra, Muktinath Agriculture. , has raised investment from investors including Himalayan Capital, IME General Insurance, Hathaway Investment, Alpha Capital, Adhyanata Fund Management. The current paid-up capital of this company is Rs 55 crore and Rs 13.75 crore will be raised from the general issue.