Kathmandu. Elite Capital Limited has taken responsibility for underwriting the shares of Kantipur Pharmaceuticals Lab Limited, which is in the process of selling ordinary shares. Elite Capital and Kantipur Pharmaceuticals have signed an agreement in this regard.
Elite has secured 1.7 million units of ordinary shares worth Rs 170 million of Kantipur. Managing Director of Kantipur Pharmaceuticals Nawaraj Poudel and Executive Chairman of Elite Capital Dinesh Acharya signed the agreement on Tuesday. Kantipur Pharmaceuticals has applied to the Securities Board of Nepal for the sale of shares. Its sales manager is Muktinath Capital.
The company, which has a paid-up capital of Rs 630 million, has started the process of issuing 1.7 million units of IPO at a face value of Rs 100. Founded in 2018, the company has been researching veterinary medicines and producing and distributing dietary supplements for livestock.
At present, the company has obtained production approval of 61 medicines from the Department of Drug Administration. Of these, 13 medicines have been sold in the Nepali market after obtaining sales and distribution certificates. The company is in the process of obtaining sales and distribution certificates of other medicines. The company also produces and sells 21 other dietary supplements. rss
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