Kathmandu. Makalu Wine Industries, the first wine industry in Nepal, is going to issue initial public offering (IPO). The company will issue 10 lakh units of shares at a face value of Rs 100 per share.

Reliable Investment and Merchant Capital Limited has been appointed as the issue manager for the IPO issuance.

Mr. Pitambar Pokhrel, chairman of Makalu Wine Industries Ltd. and Mr. Bhishma Raj Chalise, CEO of Reliable Investment and Merchant Capital, signed the agreement on behalf of their respective organisations.

Makalu Wine Industries Limited, established in 2052 BS at Dharmadevi Municipality-3, Sankhuwasabha, has been producing organic wine for the past 31 years from the water of a natural spring located at an altitude of 2,800 meters above sea level. The company, which has been producing high quality wine through the use of modern technology, has around 20 ropanis of land of its own.

Institutional investors including Devshree Ventures, Harvest Ventures, Birtamod Sanjivani Investment and Stock Ideas Investment have also invested in the company. The company is also planning to launch three types of premium grapes in the near future. With the IPO issuance, it is seen as an important step to connect Nepal’s organic wine industry to the capital market.