Kathmandu. Pharmaceutical company Divine Healthcare Limited has started the process of issuing ordinary shares (IPO) to the general public. The company has appointed Muktinath Capital as the issue manager for the IPO issuance.

Yubaraj Shrestha, Chairman of Divine Healthcare, and Kabindra Bikram Dhoj Joshi, Chief Executive Officer of Muktinath Capital, signed the agreement. The company is preparing to issue 20 percent of the issued shares to the general public.

The signing ceremony was also attended by the company’s Managing Director Susanta Murarka and Directors Manoj KC and Binay Todi.

Divine Healthcare, established in 2074 B. S., is a pharmaceutical company based in Bijayanagar, Chitwan, Bharatpur Metropolitan City-16. The company has been producing and distributing various medicines for human health after obtaining necessary approval from the Department of Drug Administration regarding production and marketing.

According to the company, at present, 67 types of medicines are being produced and sold in the Nepali market. The company is also preparing to produce Dry Powder Inhaler (DPI) medicine for patients of Chronic Obstructive Pulmonary Disease (COPD) from next January.

The company, spread over an area of about 1 bigha of land, has been operating on a profit for the last three financial years. The company claims that it has been operating the business mainly from its own capital without taking loans from banks and financial institutions. The company has more than 125 distributors across the country.

The company plans to use the proceeds from the IPO to expand new technology, develop new drugs, improve the quality of existing medicines and make the production process more effective and safe.