Virat Agro to Issue IPO, Appoints NIC Asia Capital as Sales Manager
Virat Agro Limited, which has its business office in Sunsari, is set to issue an initial public offering (IPO) for the general public. The company has signed an agreement with NIC Asia Capital Limited to receive all necessary institutional advisory services for the IPO issuance.
Kathmandu. Virat Agro Limited, which has its business office in Sunsari, is set to issue an initial public offering (IPO) for the general public. The company has signed an agreement with NIC Asia Capital Limited to receive all necessary institutional advisory services for the IPO issuance.
Under NIC Asia Capital's “IDEA to IPO” service, Virat Agro will receive all necessary advisory services from the company establishment phase to the IPO issuance. According to the agreement, the capital will provide the company with necessary facilitation and advice in the public share issuance process in accordance with prevailing laws.
Established with the objective of developing Nepal's agriculture and aquaculture sector in a commercial, modern, and sustainable manner, Virat Agro has been engaged in commercial integrated agriculture and fish farming through about 150 ponds covering more than 100 hectares of water area in Morang and Sunsari districts.
The company has stated that it operates a modern fish feed plant with a daily production capacity of 25 tons in Itahari-13, Khanar Industrial Area, producing and distributing various types of floating and sinking fish feed.
In the coming days, the company plans to utilize the capital obtained from the IPO for expanding production capacity, modern processing technology, and commercial infrastructure development.
Virat Agro aims to establish a modern pangasius filleting and fish processing plant, process, package, and market fish products, and in addition to the currently operating Floating Fish Feed Plant, establish a Pellet Feed Plant with a daily capacity of 10 tons.
Under the ‘Farm to Market’ concept, the company has advanced a plan to develop activities ranging from fish production on its own farm to fish feed production, modern processing and filleting, cold storage, packaging, and market management into a single integrated commercial system.
The company expects this expansion plan to contribute to value addition, use of modern technology, employment generation, and import substitution in Nepal's agriculture and aquaculture sector.