Nepal Infrastructure Bank to acquire stake in Nepal warehousing Company by investing seed capital of Rs 5 crore; agro sector company to float IPO worth Rs 13.75 crore

Nepal Infrastructure Bank has stepped up to own the stake in Nepal Warehousing Company where the bank will be purchasing the shares and making the loan investment in the company.

Under the company, the cold storage facility will be constructed at Sunsari, Parsa and Kapilvastu districts through which the farmers will receive an attractive price for their agricultural produce and will also receive a loan facility from the bank whenever they are in need of the cashflow, as per the media statement.

The bank will make a capital investment of Rs 5 crore while the remaining shareholders will bring in Rs 50 crore following which the company will float ordinary shares worth Rs 13.75 crore to the general public, as per the media statement.