Business Interest Group of Industries to Issue 45 Lakh Shares in IPO | Appoints Kumari Capital as Issue Manager

May 16, 2024 | Investopaper

Business Interest Group of Industries Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Kumari Capital Limited as the issue and sales manager.

The agreement for public offering was signed between the company and Kumari Capital Limited on this regard. Mr. Nabaraj Burlakoti, Chairman of Business Interest Group of Industries Limited and Pushpa Sharma, CEO of Kumari Capital inked the agreement.

Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the company can issue the shares to the public.

The company plans to sell 45 lakh unit shares at a par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 45 crores.

In the first phase, the company will sell shares to the foreign employed Nepalis. Likewise, in the second phase, the company will float shares to the general public, including the employees of the company and the mutual fund schemes.

About Business Interest Group of Industries Limited

Business Interest Group of Industries Limited was established in February 2021 as the holding company. The company has investment in Budhanilkantha Heritage Hotel and various Agro-based subsidiaries.

The major promoters of the company include:

—Naba Raj Burlakoti,

Ambika Pd. Poudel,

Babu Kaji Karki,

Babu Ram Gyawali,

Bhupati Neupane and others.


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