Litmus Industries, Avasar Equity Diversified Fund ink deal
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KATHMANDU, JUNE 26: Litmus Industries Limited and Avasar Equity Diversified Fund have signed an agreement on strategic growth investment. They did so yesterday at a program held yesterday in the capital.
Litmus is a leading wire, cables, and conductor manufacturer in Nepal, while Avasar Equity Diversified Fund boasts of being Nepal’s first domestic private equity fund.
As per the deal, the latter will invest in the establishment of a new state-of-the-art factory in Parasi by the former.
"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 the growing customer demand while maintaining its commitment to innovation and excellence," states a press release.
"This partnership will enable us to scale our operations, innovate more rapidly, and ultimately deliver greater value to our customers and stakeholders,” the release quoted Rohit Gupta, Managing Director of Litmus Industries Limited, as saying.
Similarly, Dhruba Timilsina, Chief Executive Officer of Avasar Equity Limited and fund Manager for Avasar Equity Diversified Fund, “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.”
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