Mangalam Industries secures Rs 380m investment from Avasar Equity Diversified Fund
KATHMANDU: Mangalam Industries (MIL) has secured an investment of approximately Rs 380 million from Avasar Equity Diversified Fund, a leading private equity fund committed to backing high-growth enterprises in Nepal.
In a statement on Tuesday, MIL said that this strategic investment marks a significant milestone in its growth journey and reflects strong investor confidence in the company’s vision, capabilities and long-term potential.
The infusion of capital is expected to enable MIL to strengthen operations, enhance product innovation and expand its market presence across Nepal and beyond.
The investment will primarily be utilised to bolster the company’s balance sheet, improve operational efficiencies and further its commitment to sustainability and excellence, the statement said.
“We are delighted to welcome Avasar Equity Diversified Fund as a strategic partner in our journey of transformation,” said Abhinav Churiwal, chief executive officer of MIL. “This investment is not just a validation of our business model but also a powerful boost for our employees, dealers, customers and all stakeholders who have been integral to our success.”
The statement added that the partnership reaffirms MIL’s commitment to delivering long-term value while creating a positive impact in the communities it serves. Together with Avasar Equity Diversified Fund, the company looks forward to unlocking new opportunities and setting new benchmarks for innovation and quality in the sector.
Mangalam Industries is a leading Nepali manufacturing company known for its commitment to quality, innovation and integrity. It is the first manufacturer of CPVC pipes and fittings in Nepal and the only exporter of a complete range of CPVC products from the country. Its comprehensive product portfolio includes solutions for plumbing, drainage, sewage and rainwater management, water supply, electrical conduit systems and borewell applications.
With a robust dealer network and long-standing industry partnerships, Mangalam continues to build a trusted and respected brand in the Nepalese industrial landscape.
Avasar Equity Diversified Fund is Nepal’s first domestic private equity fund registered with the Securities Board of Nepal under the Specialised Investment Fund Regulation 2019.
