Sri Jai Ambe Steels Limited, Nepal’s most modern steel industry, is preparing to issue its Initial Public Offering (IPO). With an impressive annual turnover of NPR 40 billion, the company has entrusted NIMB Capital Limited as the official sales manager for its upcoming IPO.
The agreement was formalized in the presence of key representatives from both Ambe Steels and NIMB Capital. Sri Jai Ambe Steels, part of the well-known Ambe Group, which is led by Shobhakar (Hari) Neupane, has taken this significant step following a special resolution to raise capital through a public offering.
Established in 2076, Jai Ambe Steels is the second steel manufacturing entity of the Ambe Group and has a production capacity of 1,000 tons per day. The company commands an 80 percent market share in the region with its popular ‘Ambe’ brand.
Situated in Nepalgunj, Banke, this steel plant, the largest in western Nepal, produces TMT steel, MS billet, MS flat, MS scaffold, gabion boxes, and other products using induction furnace technology. The company is dedicated to providing high-quality, reliable construction materials to meet the growing demands of its customers.
By raising capital from the general public, Jai Ambe Steels plans to expand its production capabilities and contribute even more to Nepal’s construction industry, reducing the nation’s dependence on imported steel.