Despite government efforts to regulate the liquor industry, there was a big demand for shares of the Himalayan Distillery Limited when its public issue opened Thursday through 48 outlets and 30 brokers nationwide, issue managers said.
There are 26 outlets in Kathmandu Valley alone; for the first time, NIDC Capital Markets Ltd. is managing the issue of a distillery. The company is floating 1,734,600 or 42 percent of its shares with a face value of Rs.100 at Rs.50 initially; promoters hold the remainder.
The issue will remain open at least until September 21. The company has an authorized capital of Rs.900 million and issued capital of Rs.413 million.
The distillery at Lipin village in Parsa district can produce 20,000 liters alcohol and ENA daily; a plant can cap 110 bottles per minute. he distillery in collaboration of Seagram Limited, Canada, has already started marketing Royal Stag and Cleopatra brand whiskies.
Maoists are pressurizing the government to stop the production and distribution of liquor sometimes in a violent campaign.