Nexgen Management to Issue Rs 150 Million IPO

Nexgen Management & Equity Solutions Ltd is gearing up for a market debut with a fresh IPO worth Rs 150 million.
The company has appointed Laxmi Sunrise Capital Limited as the issue manager for the public offering.

Nexgen will issue 1.5 million ordinary shares at a face value of Rs 100 each. The IPO agreement was officially signed on Monday at the Laxmi Sunrise Capital office in New Baneshwor, Kathmandu.

The agreement was signed by Ramesh Kumar Bhattarai, Managing Director of Nexgen, and Vijay Lal Shrestha, CEO of the capital. Prominent shareholders Vijay Bahadur Shah and Kamal Panthi were also present during the signing ceremony.

Nexgen has an authorized capital of Rs 1 billion and a paid-up capital of Rs 500 million. The company has been consistently generating net profit for the past six consecutive years since its third year of establishment. Although it distributed cash dividends last year, the profit for this year has been transferred to the reserve fund. The company also confirmed that its net worth per share stands above the face value.