NIBL Equity Partners and Jagadamba Spinning Mills Sign Investment Agreement

Wed, Jul 10, 2024 7:18 AM on Latest, IPO/FPO News, Corporate,

NIBL Equity Partners, a private equity fund registered with SEBON under the Specialised Investment Fund Regulations 2019 and managed by NIMB Ace Capital Limited, a Fund Manager approved by SEBON, has signed a definitive investment agreement with Jagadamba Spinning Mills Limited. The agreement was signed by Mr. Shivanth Bahadur Pandé, CEO of NIMB Ace Capital, and Mr. Bishnu Neupane, Managing Director of Jagadamba Spinning Mills, on July 8, 2024.

Established in 2005, Jagadamba Spinning Mills is a leading yarn manufacturer in Nepal, specializing in polyester, polyester-viscose blended, and acrylic yarns, with a factory located in Rupandehi.

The investment aims to strengthen Jagadamba Spinning Mills' position as a top yarn manufacturer, increasing its profitability and production capacity by 40% in anticipation of an upcoming IPO.

Mr. Pandé expressed his commitment to supporting sustainable businesses in Nepal, while Mr. Neupane highlighted the benefits of the partnership, including enhanced production capabilities and market expansion in South Asia. Jagadamba Spinning Mills currently produces 50 MT of yarn per day, with 95% exported mainly to India, and employs nearly 1,000 workers. The company aims to diversify its exports within South Asia and solidify its position as a leading textile industry in Nepal.