Divine Healthcare Appoints Muktinath Capital as Issue Manager for IPO Issuance

Divine Healthcare Limited has appointed Muktinath Capital Limited as the issue manager for its upcoming initial public offering (IPO) to the general public.

An agreement was signed at the Muktinath Capital office by Divine Healthcare Chairman Yubaraj Shrestha and Muktinath Capital CEO Kabindra Bikram Dhwaj Joshi. The company plans to issue 20% of its paid-up capital as ordinary shares to the public.

Established in 2017, Divine Healthcare is a pharmaceutical manufacturer based in Bharatpur Metropolitan City-16, Chitwan. The company currently produces and distributes 67 types of medicines in the Nepali market and has a distribution network of more than 125 distributors across the country.

Divine Healthcare plans to use the funds raised from the IPO to expand production technology, develop new medicines, improve existing products and strengthen research and development activities.