Jay Ambe Steels Limited, a leading steel manufacturer in Nepal and a flagship company of the Ambe Group, has partnered with NIMB ACE Capital Limited to issue shares to the public through an Initial Public Offering (IPO).
The exact number of shares to be offered will be finalized during the company’s upcoming AGM/SGM. Established in 2019, Jay Ambe Steels operates the largest steel factory in Western Nepal, located in Banke District, with a production capacity of 1,000 tons per day. The company currently supplies nearly 80% of the regional market under the “Ambe” brand.
In addition to TMT rebars and MS products, Jay Ambe Steels manufactures a wide range of high-quality construction materials that play a vital role in Nepal’s infrastructure and development. With an annual turnover exceeding USD 300 million, the company aims to use the IPO to further expand its operations, increase production capacity, and contribute to reducing Nepal’s reliance on steel imports.
The partnership agreement was signed in the presence of representatives from both organizations.
Sources:
Sharesansar |
Spotlight Nepal |
ICT Frame |
Economist Nepal |
Ratopati |
B360 Nepal
