Himalayan Distillery to float shares

BY A STAFF REPORTER

Kathmandu, Sept. 12:In the first-ever public issue by any distillery, Himalayan Distillery Limited is issuing public shares from September 13 worth over Rs. 173 million.

The Distillery has an authorised capital of Rs. 900 million out of which 42 per cent - 1,734,600 units of shares with a face value of Rs. 100- will be issued for the public while the promoters will hold 58 per cent shares. The Company said the issue would remain open at least till September 21. The prospective buyers can apply for the share paying Rs. 50 per unit initially.

The Distillery with an issued capital of Rs. 413 million has been licensed to produce 20,000 thousand litre alcohol and ENA spirit daily. It has two bottling plants which can bottle 110 and 60 bottles of its products pre minutes.

The producer of Royal Stag and Imperial Blue, the company has reached agreements with the famous international distilleries to launch new products jointly. It has eyed India, Bangladesh, Sri Lanka, Chinese autonomous region of Tibet as well as the overseas countries as its market.

The Distillery that claims to be the biggest and most modern plant in the country is also the first company that can produce alcohol from starch and starch materials. The company source said that it had installed a pollution free plant.

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