Mechi Industries Limited has appointed Nepal SBI Merchant Banking Limited to acquire corporate advisory and issue & sales management services for the issuance of 1,500,000 units of ordinary shares with a face value of Rs. 100/- per share to the general public. During a program held today, Mr. Santosh Kumar Bhandari, Managing Director and Chief Executive Officer on behalf of Nepal SBI Merchant Banking Limited, and Mr. Pawan Ghimire, Chairman on behalf of Mechi Industries Limited, signed a bilateral agreement regarding the provision of issue & sales management and corporate advisory services for the aforementioned shares.
Nepal SBI Merchant Banking Limited is a wholly-owned subsidiary of Nepal SBI Bank Limited. Licensed by the Securities Board of Nepal, it has been providing investment management services, securities issue and sales management services, securities underwriting services, demat (beneficiary) account operation services, corporate advisory services, and share registrar services.
Mechi Industries Limited is a manufacturing industry that produces Autoclaved Aerated Concrete (AAC) blocks based on primary domestic raw materials such as sand, cement, and lime. It is situated on its own land within 200 meters from the Mahendra Highway in Tarabari, Damak, Jhapa. These blocks are lightweight, eco-friendly, and are used as an alternative to traditional bricks. Currently, the company has an annual production capacity of 2,160,000 pieces. It utilizes high-pressure steam technology, which makes the blocks heat-resistant and fire-resistant. In addition to AAC blocks, the company has expedited the installation of the necessary plants and machinery to produce Adhesive (a material used for joining AAC blocks), Readymix Plaster (a material used for exterior/interior plastering on AAC blocks), and Wall Putty (a fine white cement used to smoothen walls prior to painting), with the objective of making these products available in the market very soon.