Shree Distillery Limited Appoints Prabhu Capital as Sales and Issue Manager for IPO

Fri, Jun 14, 2024 9:52 AM on Latest, IPO/FPO News, Corporate,

Shree Distillery Limited, a prominent liquor industry in Nepal, has appointed Prabhu Capital Limited as the sales manager for its initial public offering (IPO).

Prabhu Capital will oversee the sale of 16% of the 60 lakh unit shares, equivalent to 960,000 shares. This corresponds with the company's intention to allocate 16% of its IPO from its existing share structure.

The agreement, signed on Jestha 31, 2081, was endorsed by Shree Distillery's Director Sanat Neupane and Prabhu Capital's CEO Ashish Gauchan. Director Sanat Neupane highlighted the company's longstanding reputation in the liquor industry and its decision to partner with the public through this IPO.

Ashish Gauchan expressed gratitude for Shree Distillery's trust in Prabhu Capital for this significant financial event. Shree Distillery, established in 1985, is renowned for brands like King's Pride Whisky and Mount Everest Whisky and plans to expand its product lineup post-IPO, focusing on high-quality spirits production.