Kathmandu, July 16
Mangalam Industries Limited (MIL) has secured an investment of approximately Rs 3.8 million from Avasar Equity Diversified Fund, a private equity fund committed to backing high-growth enterprises in Nepal.
Issuing a press statement on Tuesday, MIL states that this strategic investment marks a significant milestone in the growth journey and reflects strong investor confidence in the company’s vision, capabilities, and long-term potential.
The infusion of capital is believed to empower MIL to strengthen operations, enhance product innovation, and expand its market presence across Nepal and beyond.
The Investment will primarily be utilized to strengthen the balance sheet of the company, improve operational efficiencies, and further its commitment to sustainability and excellence, reads the press release.
“We are delighted to welcome Avasar Equity Diversified Fund as a strategic partner in our journey of transformation,” said Abhinav Churiwal, Chief Executive Officer, Mangalam Industries Limited. “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 press release further states that this partnership reaffirms Mangalam Industries’ 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.
