Upcoming IPO: Jagdamba Steels Limited

Jagdamba Steels Limited has submitted an application to SEBON asking for permission to issue IPO Shares at premium rate to locals and general public. The steel manufacturing company plans to issue 20,070,000 unit shares at Rs. 300 per share in its initial public offering.

Jagdamba Steels IPO

Jagdamba Steels submitted an application to issue IPO on 4 October, 2023. As soon as its application gets approved, the company will issue its public offering in two phases. Initially, Jagdamba Steels will issue shares to local and Nepalese Working Abroad and afterwards to general public.

Jagdamba Steels has appointed Siddhartha Capital as its issue manager for its IPO. The company will raise Rs. 6.02 Billion with its initial public offering which will be used for the expansion of business and repaying the debt.

About Jagdamba Steels

Jagdamba Steels Limited is the leading & the largest steel manufacturer in Nepal which produces a wide range of steel products and ensures its easy availability throughout the country. Jagdamba Steels was established as a private limited company in 1993 which is now converted in public limited company. Its manufacturing factory is located at Bara district of Nepal and has a manufacturing capacity of 2,444,000 metric ton per annum.

Company Analysis: Jagdamba Steels

Jagdamba Steels is the biggest steel maker in Nepal. They make a lot of different steel products for building and infrastructure. Right now, they mostly work in Nepal, so they could grow more by expanding to other places. The steel business is tough because there are many other companies in Nepal and around the world. To stay ahead, Jagdamba Steels has to be good at keeping costs down, coming up with new ideas, and making their brand stand out.