Banking News – Amudi Foods Limited is preparing to issue an IPO. The company is set to bring the general public into the company’s journey through a public share issuance (IPO).

According to the company’s proposed capital structure, the total issued capital will be Rs 42 crore. Of this, Rs 32 crore is proposed for the promoter group and Rs 10 crore worth of shares for the general public.

For the IPO issuance process, the company has already appointed Global IME Capital as the issue manager. Similarly, the company has stated that an agreement has been signed with Infomerics Credit Rating Nepal Limited for credit rating. It has been stated that necessary processes related to underwriter appointment, prospectus preparation, and the Company Registrar’s Office are underway.

According to the company’s plan, it expects to apply to the Securities Board of Nepal for IPO issuance in Mangsir 2083 and receive IPO approval by Jestha 2084. These timelines are the targets made public by the company according to its current plan.

The company plans to utilize the capital raised from the IPO and other sources in expanding production capacity. It has been stated that the capital will be used especially for establishing a dedicated noodles production plant, increasing production capacity, and adding new products.

Along with production and capital expansion, Amudi Foods has set a long-term goal of maintaining consumer trust through quality and clean food production. The company has also put forward the goal of establishing itself as Nepal’s most reliable and innovative food brand.