Greenply Nepal to Issue 16.40 Lakhs Shares in Upcoming IPO

Greenply Nepal Limited has approved a proposal to issue 20% of its paid-up capital, equivalent to 16.40 lakhs ordinary shares, to the general public through an Initial Public Offering (IPO). The proposal was endorsed at the company’s Special General Meeting held at its registered office in Budhiganga Rural Municipality-5, Morang. The company, which manufactures and exports plywood in Nepal, had already converted into a public limited company last fiscal year as part of its IPO preparation. The meeting also approved adding a Rs. 125 premium to the face value of promoter shares. Greenply Nepal has reported steady financial growth, with annual turnover reaching around Rs. 47.5 crores in FY 2081/82, representing an 18.96% increase from the previous year. The company says it has remained profitable for the past five consecutive years.

Around 30% of its production is sold in the domestic market, while more than 70% is exported, mainly to India. The company has also received government export subsidies and holds BIS certification for its products in the Indian market. Its financial position has also improved, with the overall gearing ratio declining from 7.41 times to 2.44 times, while net tangible assets increased from around Rs. 8.20 crores to Rs. 22.60 crores. The company manufactures plywood, blockboard and flush doors, focusing on quality, environmentally friendly production and modern technology. It plans to expand production capacity, enter new markets and invest in technology and innovation while reducing Nepal’s dependence on imported plywood. Headquartered in Budhiganga Rural Municipality-5, Morang, the company is chaired by industrialist Jeevan Prasad Rijal and has investments from business figures including Diwakar Rathi, Dagendra Prasad Rijal, Manish Khetan, Sunil Agrawal and Vivek Agrawal. Institutional investors include Star Investment Fund, Top Fund and Harvest Ventures.