26 June 2024, Kathmandu
Litmus Industries Limited, a leading wire, cable, and conductor manufacturer in Nepal, is pleased to announce a strategic growth investment from Avasar Equity Diversified Fund, Nepal’s first domestic private equity fund.
Litmus Industries Secures Strategic Investment
The investment by Avasar Equity Diversified Fund is a significant milestone for Litmus Industries as it embarks on a journey of capacity expansion by setting up a new state-of-the-art factory in Parasi, Nepal.
The collaboration with Avasar Equity Diversified Fund will enhance Litmus Industries’ production capabilities, streamline its operations, and elevate its market presence, enabling it to meet growing customer demand while maintaining its commitment to innovation and excellence.
Mr. Rohit Gupta, Managing Director of Litmus Industries Limited, expressed his enthusiasm about the partnership, saying, “Their confidence in our vision and capabilities is a testament to the hard work and dedication of our team. This partnership will enable us to scale our operations, innovate more rapidly, and ultimately deliver greater value to our customers and stakeholders.”
“Our investment in Litmus Industries underscores our commitment to supporting pioneering companies with the potential to disrupt and lead their respective fields. We are excited to work closely with Litmus Industries and contribute to their continued success.”,” remarked Mr. Dhruba Timilsina, Chief Executive Officer of Avasar Equity Limited, Fund Manager for Avasar Equity Diversified Fund.
Litmus Industries Secures Strategic Investment
About Litmus Industries:
Litmus Industries is Nepal’s largest manufacturer of quality wires, cables, and conductors. It holds the distinction of being Nepal’s first and only public company in the wires and cables industry. Since 2014, under the aegis of Ramesh Corp., Litmus Industries has been a trusted brand committed to contributing to Nepal’s electrification and growth agenda. In alignment with the Nepal government’s vision for hydropower electricity, Litmus plays a crucial role in developing and expanding hydropower infrastructure by providing world-class cables and conductors for the efficient transmission and distribution of clean energy. This collaboration is vital for promoting sustainable energy solutions and ensuring the country’s long-term energy security.
About Avasar Equity Diversified Fund:
Avasar Equity Diversified Fund, an NPR 4.56 billion close-ended sector-agnostic private Equity fund registered with the Securities Board of Nepal (SEBON), is committed to value creation for its stakeholders by partnering with high-potential companies and supporting their innovative and impactful projects that drive economic growth and development in Nepal.
