Kathmandu. Janata Agro and Forestry Limited, which is in the process of issuing the initial public offering (IPO), has decided to accept the proposal of the institutional investors and redetermine the capital. The Special General Assembly held in Kathmandu on Friday took the decision in this regard.

People’s Hydropower Company Limited and Summit Energy Solution Pvt Ltd had proposed to invest in the company’s promoter shares. The AGM decided to give Rs. 100 per share to both the companies. The company has decided to issue 2,200,000 units of shares at the rate of Rs 125 each. The two companies will now have shares worth Rs 5 crore.

Janata Agro, which has an issue capital of Rs 2.5 billion, has started the process to issue a minimum of 20 percent to a maximum of 27.5 percent of its shares to the general public. The SAGM also passed a resolution authorizing the Board of Directors to proceed with the entire process for the purpose.

Earlier, the general meeting of Janata Agro held in November 2082 had decided to issue IPO. Siddhartha Capital Limited has been appointed as the issue manager for the IPO and Care Age Ratings has been appointed as the issue manager for the IPO process.

The meeting also endorsed a proposal related to amendment to the company’s regulations. Rule 27 (3) of the Securities Board of Nepal (SEBON) Regulations has been amended to provide for the representation of two independent directors and ordinary shareholders in the board of directors in line with the IPO issuance process, prevailing standards of the Securities Board of Nepal (SEBON), regulatory provisions and good governance.

Janata Agro and Forestry Limited is a company established with the goal of fulfilling the national and international needs through agriculture and forest products by adopting the concept of ‘From Farmer to Seller’. Mr. Pawan Kumar Golyan, Chairman of the Board of Directors of the company, said that with the IPO issuance, the company will take forward its journey in a stronger and responsible manner. “Our main objective is to contribute to the campaign of ‘Prosperous Nation and Happy Nepali’ by building a self-reliant economy by linking natural resources and human capacity,” he said, adding that farmers would be included in the contract agreement to produce crops and fruits on the set criteria. ’

According to Ankita Bagedia, Business Excellence and Strategy Head of Janata Agro, Janata Agro is not only focused on business expansion but also on building an integrated agriculture system that creates scalable and long-term value. “Our goal is to build an organization that can promote local products, reduce dependence on imports and deliver sustainable growth for generations by connecting farmers, modern processing, responsible investment and strong Nepali brands in a single value chain,” she said.