Kathmandu, June 14: Shree Distillery Limited, one of Nepal’s leading liquor industries, has appointed Prabhu Capital as the sales manager for the initial public offering (IPO). Shree Distillery will issue 960,000 shares.
The company has a total of 6 million shares, out of which 16% ( 960,000 shares) of the share will set aside for IPO. An agreement has been signed between the two companies for the IPO issue. The agreement was signed by Director Sanat Neupane on behalf of Shree Distillery and Chief Executive Officer Ashish Gauchan on behalf of Prabhu Capital.
After the signing, Mr. Sanat Neupane said that the company, which has succeeded in making its own identity in the liquor industry for a long time, is now going to move forward by forming a partnership with the public.
It is said that along with the agreement, the company will submit an application to Nepal Securities Board for IPO issue. The company said that the IPO will be issued soon after completing the process.
Shree Distillery is one of the oldest and pioneer liquor producers in Nepal. Established in the year 1985, Shree Distillery is renowned for its premium quality spirits. The initial main brands of this 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 Shree Distillery’s reputation for quality and excellence in the liquor market. The company’s current brands include Priyasi Sophie, Priyasi Dudhiya, Sagun Apple, Sagun Green Apple, Sagun Extra, Josh, Special Number One. Similarly, the company is soon preparing to launch three new brands labeled Oasis, Alpha Blue and Bond Black. This company has a spirit license and after the IPO release, the company will also work on high quality spirit production, the company shared.
