Saarathi Cable Industries Limited is set to issue its Initial Public Offering (IPO). The company has signed an official agreement with Citizens Capital, appointing them as the issue manager. The agreement was signed by the company’s Chairman, Ankit Bhusal, and Citizens Capital’s CEO, Sabir Bade Shrestha.
The company plans to issue 20% of its issued capital as an IPO within the fiscal year 2082/83. The funds collected will be used to establish Nepal’s first underground cable production facility and an aluminum furnace plant.
This initiative aims to support Nepal’s goal of becoming self-reliant in electrical materials. Located in Bhairahawa, Saarathi Cable Industries has been manufacturing Multi-Strand, Power, Concentric Cable, and ACSR Conductor for the past 18 years.
