Category: Business | Market | Economy

  • Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions

    Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions


    The current promoter of Kumari Bank Limited (KBL) has initiated the auction of 6,41,284 units of shares exclusively to interested promoter shareholders, starting from today. Only eligible shareholders are invited to participate in the auction, with bids accepted within 35 days from the date of this notice, concluding on the 18th of Falgun. Bidders are instructed to submit their bids either at the bank’s central office in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. In the event of no bids from existing founder shareholders within the specified timeframe, the shares will subsequently be open for auction to the general public. KBL closed at Rs. 140.60 on the last trading day, while KBLPO recorded a Last Traded Price (LTP) of Rs. 106.00 as of February 21, 2024.

    Similarly, an auction notice has been issued by the existing promoter of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) for the sale of 6,206 units of shares to interested promoter shareholders. Indra Bahadur Godar, the existing promoter, invites bids within 35 days from the publication date of this notice, until the 18th of Falgun, 2080. Shareholders willing to participate should submit their bids either at the institution’s corporate office in Mahalaxmi-04, Lalitpur, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. If no bids are received from existing founder shareholders within the stipulated timeframe, the shares will then be auctioned to the general public. SWMF closed at Rs. 658.20 in the previous trading session, and SWMFPO reported an LTP of Rs. 196.00 as of February 8, 2024

  • Seed Energy Partners with NMB Capital for Initial Public Offering Management

    Seed Energy Partners with NMB Capital for Initial Public Offering Management


    Seed Energy Ltd has finalized an agreement with NMB Capital Limited for the management of its Initial Public Offering (IPO). This development signifies a noteworthy achievement for Seed Energy Ltd as it prepares to introduce its shares to the public. The collaboration with NMB Capital Limited, a renowned entity in issue management, is anticipated to be pivotal in ensuring the IPO’s success. This strategic partnership marks a significant advancement for Seed Energy Ltd and fosters optimism regarding the potential prosperity of the forthcoming IPO.

  • Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details

    Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details


    Shikhar Insurance Company Limited (SICL) has announced its 19th Annual General Meeting (AGM) scheduled for the 9th of Chaitra, 2080. The AGM is set to take place at the Shikhar Insurance Company Ltd’s Head Office, Shikhar Biz Center in Thapathali, Kathmandu, starting at 11:00 AM.

    The outlined agendas for the AGM include the endorsement of financial reports for the fiscal year 2079/80, approval of the auditor’s report encompassing Profit and Loss statements, financial reports, and cash flow reports, as well as the confirmation of the auditor’s appointment for the fiscal year 2080/81. Additionally, the AGM will involve the election of four directors, with three representing the promoter shareholding group and one from the public shareholding group. The authorization of expenditures related to corporate social responsibility initiatives will also be addressed, along with miscellaneous matters.

    In a decision made during the 322nd Board Meeting on Falgun 04, 2080, SICL communicated that there would be no dividend distribution for the fiscal year 2079/80. The book closure date is set for Falgun 27, allowing shareholders maintained before that date to participate in the AGM.

  • Allotment Concluded for Kumari Sabal Yojana: 29,134 Valid Applicants Successfully Allocated Units

    Allotment Concluded for Kumari Sabal Yojana: 29,134 Valid Applicants Successfully Allocated Units


    Kumari Capital Limited recently launched its latest closed-end mutual fund, the “Kumari Sabal Yojana,” with a total value of Rs 1 Arba. The subscription period for this fund began on the 28th of Magh and concluded on the 13th of Falgun, 2080. The allotment process, conducted at Kumari Capital’s premises in Naxal, was finalized on the 16th of Falgun at 10 AM.

    Out of the total 10 crore unit shares, the scheme manager Kumari Capital Limited was allocated 10 lakh units worth Rs. 1 crore, while the fund sponsor Kumari Bank Limited received 1.4 crore units, representing 14% and valued at Rs. 14 crore. The remaining 8.5 crore units, amounting to Rs 85 crore, were issued to the general public.

    According to Kumari Capital, they received a total of 29,160 applications, and after careful scrutiny, 29,134 valid applicants were successfully allotted the issued units. Unfortunately, 26 applications were rejected due to the identification of duplicate submissions during the verification process.

    For those whose applications were rejected, the fund manager emphasizes the importance of adhering to application guidelines in future investment opportunities to ensure a smooth and successful process.

    Currently managing two closed-end funds, Kumari Equity Fund (KEF), and Kumari Dhanabriddhi Yojana (KDBY), along with one open-end fund, Kumari Sunaulo Lagani Yojana (KSLY), Kumari Capital Limited strengthens its diverse portfolio in the market with the successful introduction of the “Kumari Sabal Yojana.”

     

  • Jalpa Samudayik Laghubitta & Kisan Laghubitta Call AGMs to Approve Merger Proposal

    Jalpa Samudayik Laghubitta & Kisan Laghubitta Call AGMs to Approve Merger Proposal


     

    Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) and Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) have scheduled their respective 5th Annual General Meetings (AGMs) on the same date, 9th Chaitra, 2080. JALPA’s AGM will take place at The SR Hotel in Tilottama, Rupandehi, starting at 9:00 AM, while KLBSL’s AGM will be held at Taaj Palace in Golfutar, Kathmandu, beginning at 11:00 AM. Both meetings aim to discuss and potentially approve a proposal for the merger between the two organizations.

     

  • NIC Asia Bank Auctions 5,13,325 Unit Promoter Shares Today

    NIC Asia Bank Auctions 5,13,325 Unit Promoter Shares Today


     

    The current promoters of NIC Asia Bank Limited (NICA) are putting up 5,13,325 units of promoter shares for auction starting today, the 16th Falgun until the 27th Falgun, 2080. Interested parties who qualify as promoter shareholders or individuals/companies/institutions can participate in the auction, with a minimum bid rate set at Rs. 208 per unit. Each bid must be for a minimum quantity of 1000 units.

    NIMB Ace Capital is overseeing the auction process. Bidding will commence at the auction manager’s premises on the 29th Falgun, 2080, starting at 3 PM.

     

  • Hathway Investment Nepal Lists 10% Bonus Shares on NEPSE

    Hathway Investment Nepal Lists 10% Bonus Shares on NEPSE


    Hathway Investment Nepal Limited (HATHY) recently saw 23,40,000 unit bonus shares listed on the Nepal Stock Exchange (NEPSE). This comes after the company’s 15th Annual General Meeting held on Poush 26, 2080, where it approved a 10.526% dividend for the fiscal year 2079/80. The dividend included a proposal for 10% bonus shares and 0.526% cash dividend, calculated from the paid-up capital of Rs. 1.17 Arba. Now, these bonus shares are available for trading on NEPSE. Yesterday, HATHY closed at Rs. 830.00 per share.

     

  • Thamel Plaza Hotel & Suites Calls 12th AGM with Agendas Including Auditor Appointment and Share Issuance; Credit Watch by CARE Ratings Nepal Limited

    Thamel Plaza Hotel & Suites Calls 12th AGM with Agendas Including Auditor Appointment and Share Issuance; Credit Watch by CARE Ratings Nepal Limited


    Thamel Plaza Hotel & Suites Limited has announced its 12th Annual General Meeting (AGM) scheduled for 7th Chaitra, 2080, at Thamel Plaza Hotel & Suites in Kathmandu, beginning at 4:00 PM. The proposed agenda items encompass the approval of the annual report, endorsement of the auditor’s report for the fiscal year 2079/80, including Profit and Loss statements, financial reports, and cash flow reports. Other topics to be addressed during the AGM include the appointment of auditors and the determination of their remuneration for the upcoming fiscal year 2080/81. Additionally, discussions will take place regarding the issuance of ordinary shares to the general public.

    Meanwhile, CARE Ratings Nepal Limited (CRNL) has placed Thamel Plaza Hotel & Suites Private Limited’s (TPHS) ratings of ‘CARE-NP BB’ for long-term bank facilities and ‘CARE-NP A4’ for short-term bank facilities on ‘credit watch with negative implications’.

    Thamel Plaza Hotel & Suits Limited, incorporated on January 05, 2012, is currently in the process of establishing a high-end hotel property in Thamel, Kathmandu, operating under the well-known brand name ‘Ramada Encore Kathmandu Thamel’. With construction completed, the hotel boasts a total of 90 room keys. TPHS is promoted by 37 shareholders, including two institutional promoters, and has injected a total paid-up equity of Rs. 271 Mn as of July 16, 2019.

  • NAV Reports for Sanima Large Cap Fund, Sanima Equity Fund, and Sanima Growth Fund in Magh

    NAV Reports for Sanima Large Cap Fund, Sanima Equity Fund, and Sanima Growth Fund in Magh


    Sanima Large Cap Fund (SLCF) is a closed-end mutual fund managed by Sanima Capital, associated with Sanima Bank, featuring a 7-year maturity period. With a fund size of Rs. 1.20 arba, SLCF made investments in the month of Magh, allocating Rs. 82.33 crore to listed company shares and Rs. 1.92 crore to public issues, right shares, and bonus shares. The fund also holds Rs. 12 crore in fixed deposits, Rs. 10.28 crore in bonds and debentures, and a bank balance of Rs. 11.67 crores. Reporting a net profit of Rs. 1.69 crores in Magh, there’s a decrease from the previous month’s profit of Rs. 3.73 crores, with the NAV dropping from Rs. 10.09 to Rs. 9.92.

    Sanima Equity Fund (SAEF), another 7-year closed-end mutual fund under Sanima Capital, initiated with a fund size of Rs. 1.30 Arba. In Magh, the fund invested Rs. 1.03 Arba in listed shares and Rs. 2.78 crores in public issues, right shares, and bonus shares. Additionally, it has Rs. 17 crores in fixed deposits, Rs. 10.26 crores in bonds and debentures, and a bank balance of Rs. 10.57 crores. SAEF reported a net loss of Rs. 1.42 crores in Magh, a decrease from the previous month’s net profit of Rs. 1.87 crores, with the NAV declining from Rs. 11.43 to Rs. 11.18.

    Sanima Growth Fund (SAGF), a closed-end fund with an 11-year maturity period, disclosed a fund size of Rs. 67.25 Crores. In Magh, SAGF invested Rs. 43.77 crore in listed shares, Rs. 1.47 crore in public issues, and Rs. 8 crore in fixed deposits. The fund holds Rs. 16.33 crores in the bank and other assets worth Rs. 55.31 lakhs. Reporting a net profit of 4.65 crores in Magh, there’s a decrease from the previous month’s net profit of 5.30 crores, with the NAV decreasing from Rs. 11.06 to Rs. 10.96.

  • Nabil Balanced Fund 2, NBF3, and Nabil Flexi Cap Fund Performance

    Nabil Balanced Fund 2, NBF3, and Nabil Flexi Cap Fund Performance


    The Nabil Balanced Fund 2 (NBF2) is a 10-year closed-end mutual fund scheme, and its Net Asset Value (NAV) report for the month of Magh reveals a decrease in NAV from Rs. 10.31 to Rs. 10.15. Starting with a fund size of Rs. 1.12 Arba, it invested Rs. 88.37 crores in listed company shares, Rs. 1.12 crore in non-listed shares, and Rs. 20.77 crore in listed debentures. Additionally, it holds a bank balance of Rs. 87.68 lakhs. Despite a net profit of Rs. 1.27 crores in Magh, there’s a decline from the previous month’s net profit of Rs. 3.09 crores.

    Another 10-year closed-end fund, Nabil Balanced Fund III (NBF3), started with a fund size of Rs. 1.25 Arba. In Magh, it invested Rs. 85.31 crores in listed shares, Rs. 1.01 crore in non-listed shares, and holds Rs. 7.49 crores in bank deposits. NBF3 reports a net profit of Rs. 2.30 crores in Magh, a positive shift from the previous month’s loss of Rs. 3.58 crores. The NAV for Magh is Rs. 9.33, compared to Rs. 9.43 in the previous month.

    The NAV report for Nabil Flexi Cap Fund (NFCF), an open-end mutual fund scheme without a fixed maturity period, discloses a slight increase in NAV from Rs. 10.31 to Rs. 10.32 in Magh. With a fund size of Rs. 54.17 crores, NFCF invested Rs. 33.17 crores in listed shares, Rs. 2.75 crores in bonds and debentures, and has Rs. 5 crores in fixed deposits and Rs. 15.24 crores in bank balance. The fund reports a net profit of Rs. 2.46 crores in Magh, a marginal rise from the previous month’s profit of Rs. 2.39 crores.

  • Promoter Shares Auction Today: Kumari Bank Limited & Gurkhas Finance Limited

    Promoter Shares Auction Today: Kumari Bank Limited & Gurkhas Finance Limited


    The current promoter of Kumari Bank Limited (KBL) is offering 97,847 units of shares for auction to existing promoter shareholders starting today. Srijana Sharma is planning to sell these shares to eligible shareholders. Interested parties are invited to submit their bids for the auction within 35 days from the date of this notice, which is the 13th of Falgun.

     

  • Janautthan Samudayic Laghubitta Shareholders to Receive No Dividends for FY 2079/80

    Janautthan Samudayic Laghubitta Shareholders to Receive No Dividends for FY 2079/80


     

    Janautthan Samudayic Laghubitta Bittiya Sanstha Limited (JSLBB) has declared that it won’t be distributing dividends for the Fiscal Year 2079/80. The decision was made during the 216th Board Meeting held on Falgun 12, 2080. However, it’s crucial to mention that this decision is subject to approval from Nepal Rastra Bank, the regulatory authority, and the upcoming Annual General Meeting of the company.