Sherza Ventures Limited Launched IPO, Aims To Establish Brand Bhutan Products Globally And More

Email

Sherza Ventures Limited aims to be a hyper retail and wholesale trading venture using e-commerce.

(Source: Facebook/Royal Securities Exchange of Bhutan)

 

By Damchoe Pem The Bhutanese

Sherza Ventures Limited (SVL), an e-commerce and trading company, has launched its Initial Public Offering (IPO) on 27 Aug to invite the public to invest in its shares with the aim of raising Nu 247 million.

SVL is the first comapny going for IPO after a gap of five years in Bhutan's Stock Exchange, the last one being GIC-Bhutan Reinsurance Company in 2014.

SVL aims to be a hyper retail and wholesale trading venture using e-commerce. It hopes to provide a platform for young entrepreneurs and farmers to market their products and establish Brand Bhutan of local products in the international market.

SLV also plans to become the market leader in terms of product pricing thus making their products cheaper than the existing market prices.

 

Source: Youtube/Allstore Ecosystem

 

Nu 19m equity shares will also be made available at Nu 13 per share to attract micro investors.

Of the Nu 247m, SVL has plans to spend Nu 97m as its stock and working capital, Nu 8m for HR training and development, Nu 130m for fixed asset development and Nu 12m for its IT infrastructure.

What Sherza Ventures Limited offers for customers, employees and producers

Founder and CEO of SVL, Jurmay Chophel said, “I believe that every business runs on certain core ideas. Sherza Venture’s flagship brand ‘All Store Ecosystem’ is based on the very idea of creating a sustainable business ecosystem encompassing our customers, employees and producers.”

He said that every year, on average, Bhutanese spend approximately Nu 30b on food commodities alone. As the current trading market is unorganised, it gives them huge first mover advantage.

“We aim to capitalise on this market scenario with effective operations – strongly driven by technology, and we plan to capture 10 percent of the market share in three years alone, which will generate Nu 3b of revenue every year (beyond our financial projections),” he added.

A person can invest in this company, and tomorrow they can buy products from the same company and make the company sustainable.

Meanwhile, CEO of the Royal Securities Exchange of Bhutan (RSEB), Dorji Phuntsho said that it is, for the first time in the history of the capital market of Bhutan, that they have a new generation of entrepreneurs tapping into the true potential of the capital market today.

Opportunities which Sherza Ventures Limited will bring

What has been the practice until now is, we have only those influential business houses and prominent figures who would only come for the IPO and its scheme.

 

Source: Youtube/Allstore Ecosystem

 

"But today, we are witnessing something, which is a landmark milestone for us, because that is where the capital market is – to serve as a platform for businesses to scale up, not only in terms of fund-raising activities, but there are affiliated benefits too.”

However, he also noted that till date, there are only 21 listed companies Bhutan. By design, most of these companies are mandated either by the regulation or laws to get listed on the Stock Exchange.

In addition, he said that in order to qualify for the IPO, companies need to have a track record of three years, with the condition that for two years it has to be profitable. SVL fulfilled the criteria.

After the investment by shareholders, SVL will ensure that the details of the shareholders are updated at all times. This will facilitate the delivery of dividends into the shareholders’ individual accounts without any hassle.

SVL was incorporated on 11 June 2015 as a private limited company with a capital investment of Nu 30m. Currently, the capital is further raised to Nu 109m.

The shares are on sale for a one-month period through the Royal Insurance Corporation of Bhutan Limited and subscriptions will go on till 27 September 2019.

 

This article first appeared in The Bhutanese and has been edited for Daily Bhutan.

 


Related Posts

Bhutan Buy - E-Commerce Platform Seeks To Promote Sale Of...

Samir Pradhan started Bhutanbuy, an e-commerce company, the first of its kind in Bhutan.

Sep 06, 2018 23:30

SDF To Develop E-Commerce Platform And Support Start-Ups In The...

The SDF has already achieved and disbursed US$ 47mn for 12 cross-border projects.

Jul 24, 2018 09:03

Oie – Online Taxi Booking App Connects Drivers with Passengers

Oie, an online taxi booking and dispatching mobile app, which is expected to cut the waiting time for both drivers and...

May 01, 2018 03:32

Dish8Door Delivers Food And Happiness Right To Your Doorstep

Dish8Door is a delivery service with the motto ‘You Pick, We Deliver’.

May 17, 2018 17:17

‘Business Process Outsourcing’ Expected To Create 3,000 Jobs And...

‘Business Process Outsourcing’ is a method of subcontracting various office operations to third party vendors.

Feb 03, 2019 16:24

EU-Bhutan Trade Support Project Launched To Promote Brand Bhutan

Since 1982, the EU and Bhutan has worked together in various development projects.

May 28, 2018 19:35

Latest

News

Bhutan Celebrates World Children’s Day, Renews Commitment To Well-Being Of Children

UNICEF’s Bhutan Representative, Dr Will Parks said that children today encounter multiple challenges to childhood that were not envisaged 30...

Nov 21, 2019 23:38

Dumtseg Lhakhang Restored To Its Former Glory By Her Majesty The Royal Grandmother Of Bhutan

Her Majesty the Royal Grandmother graced the consecration ceremony of the renovated Lhakhang on 15 November.

Nov 17, 2019 16:28

Features

Homestays Gaining Popularity With Tourists Seeking To Experience Authentic Bhutanese Lifestyle, Food And Culture

Villagers were provided with grants to help them develop homestay facilities such as indoor plumbing.

Nov 18, 2019 21:58

Global Happiness Alliance Aims To Spread Concept Of Gross National Happiness Worldwide

The alliance seeks to enhance the understanding of GNH as a concept and to spread it all around the world.

Nov 08, 2019 23:08

Sports

Bhutan’s Pelden Wangchuk Wins 10th Edition Of Tour 0f Dragon Mountain Bike Race

This year, the race also saw the highest number of female participants compared to past years.

Sep 10, 2019 01:08

Tour Of The Dragon – Toughest One Day Bike Race Starts On 7 September In Bhutan

It takes sheer toil and stamina for the top riders to complete the 268 km race which finishes at the capital, Thimphu.

Sep 06, 2019 23:58

Business

Celebrating Bhutan's Entrepreneurs: Kinley Rabgyel Of Goximbo

This story is part of an exclusive feature by Yeewong Magazine in Dec 2018 on celebrating entrepreneurship in Bhutan.

Nov 20, 2019 23:58

Gakyed Gatoen - Festival of Happiness Seeks To Promote Bhutan’s Products

The idea of the festival was to enable tourists and Bhutanese to learn about the traditional cottage industry.

Nov 01, 2019 23:28

Travel

Bhutan’s Black-Necked Crane Festival Drawing More Foreign Tourists

Some 500 tourists from around the world came to Bhutan to see the Black-Necked Crane festival, exceeding the number of locals.

Nov 14, 2019 23:18

Bhutan Bird Festival Set Bird Watching Haven Of Zhemgang Abuzz

Zhemgang is home to more than 500 species of birds, which is an area much sought after by bird watchers from around the world.

Nov 13, 2019 12:48

Lifestyle

Bhutanese Textiles To Be Exhibited In Paris Trade Fair 2020

The exhibition is an initiative of the EU-Bhutan Trade Support project.

Nov 10, 2019 12:48

Launch Of Karen Greenspan’s Footfalls From The Land Of Happiness: A journey Into The Dances Of Bhutan

The book delves into familiar subjects that are what continues to shape Bhutan’s image.

Oct 05, 2019 10:18

Subscribe to our newsletter

Never miss out on new happenings and news stories!

Download Daily Bhutan Mobile App

Connecting with us just got easier!