Category: Articles & Updates

  • Hathway Investment Nepal Limited to Conclude Lock-In Period for 36,512 Mutual Fund Shares on March 1, 2080

    Hathway Investment Nepal Limited to Conclude Lock-In Period for 36,512 Mutual Fund Shares on March 1, 2080


    Hathway Investment Nepal Limited (HATHY) has notified its investors and stakeholders regarding the impending expiration of the lock-in period for 36,512 unit shares held by Mutual Funds. The Securities Board of Nepal (SEBON) has directed that this lock-in period will conclude on 1st Chaitra, 2080.

    HATHY, with a total of 25,740,000 units of shares listed on the Nepal Stock Exchange (NEPSE), had allocated 5 percent of 29,25,000 shares exclusively for Mutual Funds, resulting in the issuance of 146,250 unit shares. However, only 36,512 units are currently subject to the lock-in period.

    In compliance with SEBON’s directives issued on Mangsir 25, a portion of these shares, precisely 36,512 units, were placed under a lock-in period. Stakeholders and investors are now informed that the lock-in period for these 36,512 unit shares concluded on Chaitra 1.

    The closing market price for HATHY stood at Rs. 863.90 as of the previous trading day.

  • Nepal’s Gold Market Surges to Unprecedented Heights, Breaking Records Once Again on March 6, 2024

    Nepal’s Gold Market Surges to Unprecedented Heights, Breaking Records Once Again on March 6, 2024


    The gold market in Nepal witnessed yet another remarkable surge, surpassing the record set just the day before, reaching an unparalleled peak on March 6, 2024. The Federation of Nepal Gold and Silver Dealers’ Association reported an extraordinary single-day increase of Rs. 500, driving the price of fine gold to an unprecedented rate of Rs. 1,23,500 per tola. This surge comes on the heels of the historical milestone achieved on March 5, 2024, when fine gold reached Rs. 1,23,000 per tola.

    Tejabi gold, another highly coveted variety, also experienced a notable rise, currently priced at Rs. 1,22,900 per tola, marking an increase from its previous rate of Rs. 1,22,400. However, silver prices saw a slight decline of Rs. 5 per tola, with the current market rate standing at Rs. 1,440 per tola, in contrast to the previous day’s closing rate of Rs. 1,445 per tola.

    As the domestic market witnesses a substantial increase in prices, the international market continues to play a significant role. As of the latest update, the current gold rate stands at $2,125.90 per ounce. Meanwhile, silver is also experiencing positive momentum globally, with prices reaching $23.59 per ounce.

  • Gold Prices Soar to Record Highs in Nepal on March 5, 2024

    Gold Prices Soar to Record Highs in Nepal on March 5, 2024


    The gold market in Nepal saw an extraordinary surge, reaching an unprecedented all-time high on March 5, 2024. According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold recorded a remarkable single-day increase of Rs. 2,000, soaring to an extraordinary rate of Rs. 1,23,000 per tola. This surge surpassed the previous record set on December 28, 2023, when fine gold had reached Rs. 1,22,000 per tola.

    Tejabi gold, another highly coveted variety, also witnessed a noteworthy rise, currently valued at Rs. 1,22,400 per tola, up from its previous rate of Rs. 1,20,400.

    In a parallel trend, the price of silver also experienced an increase on the same day, with a gain of 35 rupees, bringing the current silver price to Rs. 1,445 per tola. In comparison, the silver price on the previous Monday was recorded at Rs. 1,410 per tola.

    While the domestic market witnessed an upswing in prices, it’s noteworthy that the international market also plays a significant role. As of the latest update, the current gold rate stands at $2,114.80 per ounce. Internationally, silver is also experiencing positive momentum, with prices reaching $23.67 per ounce.

  • Sabottam Cement IPO Allotment: Awaiting Lucky Winners through Friday’s Lottery System

    Sabottam Cement IPO Allotment: Awaiting Lucky Winners through Friday’s Lottery System


    The IPO allotment process for Sabottam Cement, a prominent cement company, is set to conclude on Friday. Lucky applicants who successfully secure shares will receive an allotment of 50 units each through a lottery system. This eagerly anticipated event marks a significant step in the company’s public offering, providing an opportunity for investors to become part of Sabottam Cement’s ownership. The lottery system ensures a fair and unbiased distribution of shares among eligible applicants, contributing to transparency in the IPO allotment process. Stakeholders and potential investors eagerly await the outcome, hoping to be among the fortunate individuals who secure shares in Sabottam Cement through this highly anticipated public offering.

  • Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years

    Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years


    Citizens Bank International Limited (CZBIL) is launching a home loan scheme featuring a fixed interest rate of 9.99% for the initial seven years, providing customers with an opportunity to realize their dream homes. Following this initial period, a premium rate, 1% higher than the bank’s average monthly base rate, will be applicable.

    The home loan package encompasses a 0.50% management fee and offers additional benefits, including a complimentary credit card, debit card, and a 50% discount on locker facility fees for the first year. This initiative is aimed at facilitating and encouraging individuals in acquiring housing loans with favorable terms.

    CZBIL, with a widespread presence of 190 branches and 152 ATMs across the nation, serves a significant customer base of 17 lakh 26 thousand through 97 branchless banking units, providing modern banking services to meet diverse financial needs.

  • Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding

    Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding


    Corporate Development Bank Limited (CORBL) is set to auction 3,08,500 shares to existing promoter shareholders, beginning today. The interested parties are invited to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080. Bids should be submitted at the company’s central office located in Birgunj, Parsa. CORBL closed at Rs. 410.00 on the last trading day.

    In another auction notice, the existing promoters of Infinity Laghubitta Bittiya Sanstha Limited (ILBS) are offering 15,000 units of shares for auction, open to both existing promoter shareholders and the general public/institutions, starting from today. Interested individuals and promoter shareholders can bid for these shares within 15 days at the company’s central office in Gaidakot, Nawalparasi.

    Furthermore, ILBS promoters are also auctioning 60,050 units of shares exclusively for existing promoter shareholders, starting from today. If no bids are received within the stipulated 35-day timeframe, the shares will be open for auction to the general public. ILBS has a last traded price (LTP) of Rs. 675.00, while ILBSP has an LTP of Rs. 361.00.

    Similarly, the existing promoter of United Ajod Insurance Limited (UAIL), Sushila Goyal, is auctioning 52,593 units of shares to interested existing promoter shareholders, starting from today. Eligible shareholders are requested to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080, at the corporate office located at CTC Mall, Sundhara, Kathmandu. If no bids are received within the specified timeframe, the shares will be later auctioned to the general public. UAIL closed at Rs. 515.20.

    These auctions present opportunities for existing promoters to acquire shares within their respective institutions and contribute to the dynamic nature of the stock market

  • Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000

    Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000


    The price of gold has seen a significant rise, increasing by Rs. 560 per tola compared to the previous day’s trading. As reported by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is currently being traded at Rs. 1,19,000 per tola, marking a Rs. 600 increment from yesterday’s trading price of Rs. 1,18,400 per tola.

    Similarly, Tejabi gold is available today at Rs. 1,18,450 per tola, reflecting a notable increase of Rs. 600 from its previous price of Rs. 1,17,850 per tola. Additionally, the silver market has observed a slight uptick, with the current rate standing at Rs. 1,390 per tola, as opposed to the closing rate of Rs. 1,405 per tola recorded the day before.

    This surge in gold prices indicates dynamic market conditions, influenced by various factors impacting precious metal values.

  • 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.