Kathmandu. Mechi Industries Limited has appointed Nepal SBI Merchant Banking Limited as the Corporate Advisory and Issue Manager for the issue of 15,00,000 units of Initial Public Offering (IPO) at the face value of Rs 100 per share.
Mr. Pawan Ghimire, Chairman of Mechi Industries signed the agreement on behalf of the company and Mr. Santosh Kumar Bhandari, MD & CEO of NSBL Merchant Banking Limited and Mr. Pawan Ghimire, Chairman of Mechi Industries Ltd.
Nepal SBI Merchant Banking Limited is a wholly owned subsidiary of Nepal SBI Bank. Licensed by the Securities Board of Nepal (SEBON), the bank has been providing investment management services, securities issue and issue management services, securities purchase guarantee services, beneficiary account management services, corporate advisory services and share registrar services.
Mechi Industries Limited is a manufacturing industry in Tarabari, Damak, Jhapa for the production of major domestic raw materials sand, cement, lime based autoclaved aerated concrete blocks on its own land within 200 meters of Mahendra Highway. These blocks are lightweight and eco-friendly and are used as an alternative to traditional bricks. The company currently has an annual production capacity of 21,60,000 units/piece.
