Kathmandu. Kasturi Pharmaceuticals Company is going to issue initial public offering (IPO) to the general public.

The company is issuing 16 lakh units of shares worth Rs 16 crore at a price of Rs 100 per share.

The company has appointed Reliable Capital Investment and Merchant Limited as its issue manager.

The company has paid-up capital of Rs 50 crore. After the IPO of Rs 16 crore, the total paid-up capital of the company will reach Rs 80 crore.

Infomerics Nepal has assigned a BB minus rating to the company. This indicates that the company’s financial position is strong and the risk is low.

The company has a total loan of Rs 24 crore after repaying its past loans. The net worth per share of the company stood at Rs 129.93 as of mid-January last year.

The company, which has been active in the production of medicines for 13 years, has licensed more than 182 medicines and has been selling more than 125 medicines in the market.

The company, spread over 1 bigha and 10 kattha of land, is headed by Prabek Khanal, executive chairman and managing director Ishwor Bhandari, who have three decades of experience.