Sarbottam Steel Limited, supported by the Saurabh Group, has announced plans to issue an IPO to the general public, with 12.663% of the issued capital available for sale. Prabhu Capital Limited has been appointed as the share issue and sales manager to oversee the IPO process.

The agreement was signed by Mr. Anand Nepal, CEO of Sarbottam Steel Limited, and Mr. Dinesh Thakali, MD of Prabhu Capital Limited. Sarbottam Steel Limited, founded in 2017, has a paid-up capital structure with Mr. Bishnu Prasad Neupane, the chairman and managing director, owning 52% and the remaining 48% owned by 12 other shareholders, each holding less than 6%.

This news is expected to generate significant investor interest, and the appointment of Prabhu Capital Limited as the issue manager is expected to boost the credibility of the IPO. With this IPO, Sarbottam Steel Limited is poised to continue its growth trajectory and increase its market share in the steel industry.