Day: June 11, 2023

  • “Prabhu Life Insurance Company’s 5th AGM Approves Dividend, Elects New BoDs, and Announces Merger with Mahalaxmi Life Insurance”

    “Prabhu Life Insurance Company’s 5th AGM Approves Dividend, Elects New BoDs, and Announces Merger with Mahalaxmi Life Insurance”


    Prabhu Life Insurance Company recently held its 5th Annual General Meeting (AGM) under the chairmanship of Mr. Subhash Amatya on Jestha 26, 2080.

    During the AGM, the financial reports for the previous fiscal year were approved. In addition, the meeting decided to distribute 9.80% bonus shares and 0.51% cash dividends to the shareholders. These dividends serve as a return on their investment in the company. Moreover, the AGM elected new members to the Board of Directors, including Ms. Shikshya Bhattachan, Ms. Mijas Bhattachan, Mr. Shyam Krishna Shrestha, and Mr. Sushan Sherchan from the promoter shareholder group, as stated in the media statement.

    Furthermore, the AGM endorsed the proposal for a merger with Mahalaxmi Life Insurance. The merger will be conducted using a share swap ratio of 100%, resulting in the formation of a new entity named Prabhu Mahalaxmi Life Insurance. According to the media statement, the joint operations of the merged entity are expected to commence by the end of Asar, 2080.

    Overall, the AGM marked important decisions regarding dividend distribution, Board of Directors’ composition, and the merger with Mahalaxmi Life Insurance, leading to the formation of Prabhu Mahalaxmi Life Insurance.

  • “Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) Calls AGM for Acquisition Approval and Dividend Declaration”

    “Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) Calls AGM for Acquisition Approval and Dividend Declaration”


    Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has scheduled its 4th Annual General Meeting (AGM) to take place on the 16th of Ashad, 2080. The meeting will be held at Hotel Arniko in Dhulikhel, commencing at 1 PM.

    Considering the ongoing acquisition of Rastra Utthan Laghubitta by Asha Laghubitta Bittiya Sanstha Limited (ALBSL), both AGMs will pass a resolution to evaluate the Due Diligence Audit. Additionally, they will endorse a share swap ratio of 1:1 for the acquisition and approve the final agreement. The newly formed entity resulting from the acquisition will be named ‘Rastra Asha Laghubitta Bittiya Sanstha Limited’. The AGM will also address the amendment of the Articles of Association, granting full authority to the board of directors to modify various acquisition-related proceedings based on instructions from regulatory bodies.

    Moreover, during the AGM, the approval of a 15% dividend worth Rs. 3.9 Crores for the fiscal year 2078/79 will be sought. In a previous meeting held on Baisakh 13, the board of directors had decided to distribute 14.25% bonus shares amounting to Rs. 3.7 crores and a 0.75% cash dividend worth Rs. 19.50 lakhs from the paid-up capital of Rs. 26 Crores.

    To be eligible for the dividend payout and attendance at the AGM, shareholders must maintain their shares before the book closure date, which falls on Ashad 05.

  • “Delisting of 8% Everest Bank Limited Debenture 2079 from NEPSE as it Reaches Maturity: Refunds and Interest Distribution for Unitholders”

    “Delisting of 8% Everest Bank Limited Debenture 2079 from NEPSE as it Reaches Maturity: Refunds and Interest Distribution for Unitholders”


    A total of 468,845 units of the “8% Everest Bank Limited Debenture 2079” have been removed from trading on the NEPSE (Nepal Stock Exchange). This delisting indicates that the debenture has reached its maturity date, which was Jestha 28, 2079. Investors who held these debentures will now receive their principal investment amount along with the interest earned.

    The “8% Everest Bank Limited Debenture 2079” offered a fixed annual return of 8% to its unitholders throughout its duration. Now that it has matured, Everest Bank Limited will initiate the process of refunding the initial investment amount and distributing the accrued interest to the debenture holders. To obtain more specific details about the refund process and interest distribution, unitholders are advised to contact or visit the nearest branches of Everest Bank Limited, located in Hatisar, Kathmandu, Nepal. These branch offices will provide comprehensive information and assistance to the concerned debenture holders.

  • NEPSE Index Surges by 2.09% with Record Turnover, All Sectors in Green

    NEPSE Index Surges by 2.09% with Record Turnover, All Sectors in Green


    The NEPSE index experienced significant gains today, closing at 1,980.09 points, which is an increase of 40.48 points from the previous trading day’s closing. This represents a gain of 2.09% in the overall index value. Last Thursday, the index had gained 7.27 points.

    The trading day started with the index opening at 1,941.52 points and reaching its lowest point at 1,941.24 points. However, it climbed as high as 1,983.98 points before settling at 1,980.09 points at the close of trading.

    During the day, a total of 275 scrips were traded through 61,450 transactions. The shares exchanged amounted to 9,528,255, with a turnover value of Rs. 3.45 Arba. This represents an increase compared to the previous trading day’s turnover of Rs. 2.305 Arba. Notably, this is the highest turnover observed in the last four months, since February 8, 2023, when the turnover amounted to Rs. 3.69 Arba.

    Among the traded shares, Citizen Investment Trust (CIT) had the highest turnover of Rs. 11.47 crores, closing at a market price of Rs. 2,458 per share. The shares of SNMAPO were the most actively traded.

    In terms of individual stock performance, Bhugol Energy Development Company Limited (BEDC) registered the highest gain of 10%, followed by City Hotel Limited (CITY) with a gain of 9.99%. On the other hand, Global IME Balanced Fund-1 (GIBF1) experienced the highest loss of 3.83% on the day.

    In a positive note, all sector indices closed in the green. The “Finance” sector witnessed the highest gain of 5.72%, while the “Mutual Fund” sector had the lowest gain of 0.42% on the day.