Wed, July 17, 2024

NIBL Equity Partners to invest in premier yarn manufacturer JSML

B360 July 10, 2024, 2:31 pm
A A- A+

KATHMANDU: NIBL Equity Partners on Monday announced the signing of a definitive investment agreement with NIMB Ace Capital and Jagadamba Spinning Mills (JSML).

NIBL Equity Partners, a private equity fund registered with the Securities Board of Nepal (SEBON) under the Specialised Investment Fund Regulations 2019, is managed by NIMB Ace Capital — a SEBON-approved fund manager.

NIMB Ace Capital's Chief Executive Officer, Shivanth Bahadur Pandé, and JSML's Managing Director, Bishnu Neupane signed the agreement with the private equity fund.

JSML, established in 2005, is a premier yarn manufacturer in Nepal. The company specialises in producing high-quality polyester, polyester-viscose blended, and acrylic yarns. Located in the Kamahariya area of Mayadevi Rural Municipality-2 in Rupandehi district, JSML operates under the Saurabh Group, led by Bishnu Neupane. JSML's commitment to international standards has enabled it to export its products worldwide.

The investment from NIBL Equity Partners will strengthen JSML's position as one of Nepal's top yarn manufacturers and enhance its profitability. JSML also plans to go public through an initial public offering (IPO), allowing it to expand its production capacity by 40%.

Speaking about the partnership, NIMB Ace Capital CEO Pandé expressed enthusiasm, "NIBL Equity Partners is pleased to collaborate with JSML, a major exporter of its production. We are dedicated to supporting sustainable businesses in Nepal, contributing to economic growth and local employment. Institutions like Jagadamba Spinning Mills play a crucial role in our country."

JSML MD Neupane shared his excitement, "We are thrilled to partner with NIMB Ace Capital through their private equity fund, NIBL Equity Partners. Their extensive network across Nepal, combined with their expertise in banking, payments, and technology, will significantly bolster JSML. Our mission is to become a leading spinning mill in Nepal and expand our presence in South Asia. This investment will fuel our growth, enhance production capabilities, and solidify our position in the region."

JSML currently operates two plants with a daily yarn production capacity of 50 metric tonnes. Approximately 95% of its production is exported, primarily to the Indian market. The company aims to diversify its export strategy to include other South Asian countries. With nearly 1,000 employees, JSML remains committed to producing high-quality yarn and contributing to Nepal's textile industry. 

Published Date:
Post Comment
JUNE 2024

Click Here To Read Full Issue