NexGen Management and Equity Solutions Limited has appointed Laxmi Sunrise Capital Limited as the issue and sales manager for its upcoming Initial Public Offering (IPO). The company is preparing to issue 15 lakh ordinary shares at a face value of Rs. 100 per share, amounting to a total IPO size of Rs. 15 crore.

The agreement for IPO management was formally signed on Mangsir 8 at the office of Laxmi Sunrise Capital in New Baneshwor, Kathmandu. The signing was done by Ramesh Kumar Bhattarai, Managing Director of NexGen Management and Equity Solutions, and Vijay Lal Shrestha, Chief Executive Officer of Laxmi Sunrise Capital.

NexGen Management and Equity Solutions currently has an authorized capital of Rs. 100 crore and a paid-up capital of Rs. 50 crore. Since the third year of its establishment, the company has consistently earned net profits for six consecutive years. Last year, it distributed cash dividends, while this year, the net profit has been transferred to the reserve fund. The company’s net worth per share is higher than its face value, indicating strong financial health.

The company is chaired by Devendra Pratap Shah, a former banker and former chairman of the Insurance Board. Shareholders Vijay Bahadur Shah and Kamal Panthi were also present during the signing ceremony.

With the signing of this agreement, the company is expected to move ahead with the IPO issuance in the near future.