Yeti Brewery to Sell Shares through Book Building Process | Appoints NIMB Ace Capital as Issue Manager
January 17, 2024 | Investopaper
Yeti Brewery Limited is in the process of issuing shares to the public (IPO) through book building process. For this purpose, the company has appointed NIMB Ace Capital Limited as the issue and sales manager.
The agreement was signed by Mr. Sachindra Dhungana, Deputy General Manager of NIMB Ace Capital and Mr. Sanjeev Saraff, Executive Chairman of Yeti Brewery Limited.
Book Building is an alternative method of the public offering. In this method, the issue manager or book runner creates, collects, and records the demand for securities from the investors to determine the true value of the securities. The issue manager or the underwriter determines the price of the public issue based on the demand from various potential investors.
Through Book Building Method, a company wishing to issue shares at a premium will be able to issue an Initial Public Offering (IPO) at more than Rs 100.
About Yeti Brewery Limited
Yeti Brewery Limited was incorporated on January 02, 2013 as a private limited company. Later, it was transformed into a public company on May 20, 2022 to ensure public participation in the company.
The company, a joint venture between Vishal and Everest Group, operates a beer manufacturing plant in Chitwan district of Nepal. It produces beers under various brands such as Arna, Yeti, YB, Shikhar, Kingfisher and Seven Sins.
At present, the major promoters of the company include Mr. Sanjeev Saraff (32.84%), Mr. Jayjeev Saraff (11.66%) and Mr. Vishal Agrawal (6.92%).
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