Mechi Industries Appoints Nepal SBI Merchant Banking for IPO Management

Mechi Industries Limited has appointed Nepal SBI Merchant Banking Limited as its issue and sales manager, along with institutional advisory services for its upcoming public share issuance. The company plans to issue 15 lakhs unit ordinary shares at a face value of NPR 100 each. A formal agreement was signed between both parties to manage the IPO process.

Mechi Industries is an industrial company based in Damak, Jhapa, producing AAC (Autoclaved Aerated Concrete) blocks using local raw materials, with an annual production capacity of 21.60 lakhs units. The company also plans to expand its product line to include adhesives, ready-mix plaster, and wall putty in the near future.