Jagdamba Steels Preparations For IPO

Jagdamba Steels Limited is awaiting approval from the Nepal Stock Exchange Board to launch its IPO by adding a premium. In FY 2024, the company’s revenue stood at NPR 29 billion 72 crores 70 lakhs, a 24.60% decline compared to FY 2023. In the first quarter of the current fiscal year, it earned NPR 5 billion 66 crores. Despite facing challenges from market competition and cost reduction pressures, the company has shown promising progress.

Operating since 1993 and backed by the Shankar Group, the company is a leader in producing TMT bars, pipes, and shutter profiles. Its production facility near the Indian border and government support have boosted exports and reduced costs. With confirmed loan ratings, the company plans to sell 2 crore 7 lakh shares at NPR 300 each, aiming to issue shares worth NPR 6 billion 2 crores 10 lakhs, thereby increasing investor enthusiasm.