1990 was a time of change. Nepal had adopted a constitutional monarchy, parliamentary democracy. With hopes and aspiration of a new Nepal, Jyoti Spinning Mills Ltd factory was inaugurated by Prime Minister Girja Prasad Koirala in 1992 in Parwanipur, Parsa. It was Nepal’s first spinning mill operated by the private sector. It was established to explore the opportunities in cotton yarn exports. It was the last factory established by Maniharsha Jyoti.

Jay Spinning Mills (P) Ltd (JSM) commenced its operations in 2012 and it operates at the site of Jyoti Spinning Mills Ltd. Today, it manufactures cotton, polyester, viscose, polyester/cotton, polyester/viscose and blend yarns in various counts for domestic as well as export demand.