Nippon Pharmaceutical to issue IPO

Biratnagar-based drug manufacturer Nippon Pharmaceutical Limited has begun preparations to issue shares to the general public through an initial public offering (IPO).

The company, located at Bakhari, Biratnagar Metropolitan City-12, Morang, has appointed Nabil Investment Banking Limited as the IPO's share issue manager.

Nabil CEO Manish Narayan Joshi and Nippon Managing Director Mantu Ghimire signed the agreement on behalf of their respective institutions.

The company said share sales will open after regulatory approval, in line with prevailing securities regulations and allotment guidelines.

The company was registered in 2006 and established its industry in 2017. It began commercial production in 2022, five years after the industry was set up. It manufactures medicines including penicillin, ORS, dry syrup, tablets, capsules, liquid medicine, ointments, creams and gels.