Day: June 10, 2024

Nerude Mirmire Laghubitta Bittiya Sanstha Limited (NMLBBL) has successfully completed all necessary procedures to update its promoter to public shareholding ratio and has submitted a request to NEPSE to record the revised securities structure.

Following this modification, out of the total 13,977,643 shares listed on NEPSE, the promoter group now holds 7,196,505.74 shares, representing 51.49% of the total shares. Meanwhile, the general public’s stake has increased to 6,781,136.98 shares, constituting 48.51% of the total shareholding. This update has been recorded as per the decision made on Jestha 28, 2081.

The shareholding update comes after a significant merger between Nerude Laghubitta and Mirmire Laghubitta. The two microfinance institutions signed a merger agreement on Poush 11, 2079, with a share swap ratio of 1:1. Prior to the merger, the share capital of NLBBL and MMFDB stood at Rs. 73.20 Crores and Rs. 66.57 Crores, respectively. Post-merger, the combined share capital reached an impressive Rs. 1.39 Arba.

Following the successful merger, NLBBL and MMFDB began joint operations under the name “Nerude Mirmire Laghubitta Bittiya Sanstha Limited” on Falgun 30, 2080. This consolidation in the Nepali microfinance sector is expected to enhance operational efficiency, expand market reach, and contribute to greater financial inclusion in the country.

The increased public shareholding in NMLBBL also presents an attractive investment opportunity for Nepali investors looking to participate in the growth of the microfinance sector.

United Modi Hydropower Limited (UMHL) held its 10th Annual General Meeting on Jestha 27th at Kalimati Banquet in Kathmandu. The meeting saw significant decisions, including the approval of a 1:1 rights share issuance and the election of Nabin Silwal, Abinash Pandit, Sapana Gurung, and Sunil Bhakta Shrestha to the board of directors.

The AGM, chaired by Renuka Pandey, endorsed the annual report and financial statements for FY 2079/080. The shareholders also appointed an auditor for FY 2080/081 and authorized the board to explore new investment opportunities. A major highlight was the approval of investment in the 50 MW Mewa Khola Hydroelectric Project and an increase in the authorized capital to support this expansion.

The 1:1 rights share issuance will be based on UMHL’s current paid-up capital of Rs. 1,23,05,00,000, thereby boosting the company’s authorized and issued capital. To accommodate these changes, necessary amendments to the company’s memorandum and articles of association were approved.

The board received full authority to undertake required procedures with regulatory bodies such as the Electricity Regulatory Commission, Securities Board of Nepal, Nepal Stock Exchange Limited, and the Office of the Company Registrar. The event also featured energy entrepreneur and former chairman Narendra Ballabh Pant.

Kumari Capital Limited has announced the auction of 45,57,912 units of promoter shares of Kumari Bank Limited (KBL) starting today, Jestha 28, and running until Ashad 3, 2081. The auction is open to interested general public and institutions. The minimum bid rate is set at Rs. 100, and the minimum bid quantity is 1,00,000 units. Kumari Capital Limited will serve as the auction manager for this process.

Additionally, the current promoters of Kumari Bank Limited are auctioning 3,54,555 units of shares to interested promoter shareholders from today. The breakdown of the shares being sold includes 6,055 units by Mandira Maharjan Dangol, 48,500 units by Bimal Kumar Timalsina, and 3,00,000 units by Rajan Prasad Amatya. Only existing promoters are eligible to participate in this auction, which will be open for 35 days from the notice publication date of Jestha 27.

Bids must be submitted at either the central office of Kumari Bank located in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. If no bids are received from the existing promoters within the specified timeframe, the shares will be made available to the general public in a subsequent auction.

As of the latest update, Kumari Bank Limited (KBL) has a last traded price (LTP) of Rs. 138.00, while its promoter shares (KBLPO) have an LTP of Rs. 104.00.