Shree Steels Appoints Nabil Investment Banking as IPO Issue Manager

Shree Steels Limited has appointed Nabil Investment Banking Limited as the issue and sales manager for its upcoming Initial Public Offering (IPO). The company plans to issue primary shares to the general public in the near future after obtaining the necessary approvals from regulatory authorities as per prevailing securities regulations.

The agreement was signed by Rajesh Kumar Agrawal, Managing Director of Shree Steels, and Manish Narayan Joshi, CEO of Nabil Investment Banking, in the presence of Somesh Agrawal, CEO of Shree Steels.

Shree Steels, a well-known steel manufacturer in Nepal, operates a fully automated plant specializing in the production of TMT rebars. The company uses advanced Japanese technology, including a six-stand block mill, to manufacture high-quality rebars suitable for infrastructure development in Nepal’s earthquake-prone and geographically complex environment.

According to the company, its main objective is to strengthen Nepal’s industrial base by producing high-quality steel products domestically, promoting self-reliance in iron and steel materials, and creating employment opportunities.