Shree Distillery assigns Prabhu Capital as IPO issue manager

Kathmandu: Shree Distillery Limited has assigned Prabhu Capital as its issue and sales manager for the proposed initial public offering (IPOs). Shree Distillery Limited has proposed to issue 960,000 units of IPOs.

Out of 60,00,000 units of shares, a total of 16 percent has been set aside for the general public.

An agreement has been signed between the two companies for the IPO issue and sale on Thursday. The agreement was signed by Director Sanat Neupane on behalf of Shree Distillery Limited and Chief Executive Officer Ashish Gauchan on behalf of Prabhu Capital Limited.

After the signing, Neupane said that the company, which has been successful in making its own identity in the liquor industry for a long, is now moving forward by forming a partnership with the public.

Similarly, Ashish Gauchan, Chief Executive Officer of Prabhu Capital Limited, expressed his gratitude for the trust shown by Shree Distillery for the IPOs issue.

It is said that along with the agreement, the company will submit an application to Security Board of Nepal. The company said that the IPO will be issued soon after completing the process.

Shree Distillery Limited is one of the oldest liquor producers in Nepal. Established in the year 1985, Shree Distillery is renowned for its premium quality spirits.

The popular liquor brands of the company were King’s Pride Whisky, Mount Everest Whisky, Bond Black Label, Oasis Extra Dry, Shree Special Number One, Dudhia Special, Bullet, Shree Dudhia, Sagun etc. These brands have been instrumental in building Distillery’s reputation for quality and excellence in the liquor market. The company’s current liquor brands include Priyasi Sophie, Priyasi Dudhiya, Sagun Apple, Sagun Green Apple, Sagun Extra, Josh, Special Number One.

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