Category: Articles & Updates

  • NLBBL Initiates Auction of Promoter Shares to Existing Shareholders with Minimum Bid Rate of Rs. 350

    NLBBL Initiates Auction of Promoter Shares to Existing Shareholders with Minimum Bid Rate of Rs. 350


    Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has initiated the auction of 26,665 shares of promoter stock to existing promoter shareholders. Interested parties are invited to submit their bids for this auction within 35 days from the publication date of the notice, which is the 21st of Kartik, 2080. The minimum bid rate for participation in the auction is set at Rs. 350. Bidders are required to send their offers to the company’s head office located in RBB Merchant Banking Limited, Teku, Kathmandu. If no bids are received from the current founder shareholders within the specified timeframe, these shares will subsequently be made available for public auction. As of the most recent data available, NLBBL closed at Rs. 517.10.

    In a separate notice, Kumari Bank Limited (KBL) has announced the auction of 1,438 units of shares to the general public. Lal Bahadur Dhane, a KBL promoter, is facilitating the sale of these promoter shares to interested individuals in the general public. Similar to the NLBBL auction, potential investors are urged to submit their bids within 35 days from the publication date, which is the 21st of Kartik. Bids should be submitted at the company’s central office located at Kumari Capital Limited in Kathmandu. In the event that no offers are received from existing founder shareholders within the stipulated timeframe, these shares will become available for public auction. As of the most recent data available, KBL closed at Rs. 151.90, with KBLPO having an LTP (Last Traded Price) of Rs. 101 as of the 18th of October, 2023.

  • Kumari Bank Limited Initiates Auction of 5,30,000 Promoter Shares at Minimum Rate of Rs. 101

    Kumari Bank Limited Initiates Auction of 5,30,000 Promoter Shares at Minimum Rate of Rs. 101


    The existing promoter shareholder of Kumari Bank Limited (KBL) has initiated the auction of 5,30,000 units of promoter shares, starting from the 20th of Kartik, 2080.

    In this auction, a total of 5,30,000 promoter shares of KBL were made available for bidding at a minimum rate of Rs. 101. The opportunity to bid is extended to both the general public and institutions, with a deadline set for the 20th of Kartik. Interested shareholders are required to submit their bids at Kumari Capital Limited, situated at Naxal, Nagpokhari, Kathmandu.

    As of the latest information available, KBL is trading with an LTP (Last Traded Price) of Rs. 151.70. It’s worth noting that the LTP for KBLPO, the promoter shares, was recorded at Rs. 101 as of the 18th of October, 2023.

  • Kumari Bank Successfully Concludes Allotment for 10% Debenture 2090 Issue

    Kumari Bank Successfully Concludes Allotment for 10% Debenture 2090 Issue


    Kumari Bank Limited (KBL) has successfully completed the allotment process for its recent “10% KBL Debenture 2090” offering on the 19th of Kartik, 2080. The subscription window for this debenture opened on the 2nd of Kartik and concluded on the 13th of Kartik, 2080.

    A total of 50 lakh units of these debentures were made available, each having a par value of Rs. 1,000. Notably, 60% of the total units, equivalent to 30 lakh units, were allocated through a private placement arrangement, while the remaining 40%, or 20 lakh units with a total value of Rs. 2 Arba, was opened up for the general public to subscribe.

    This debenture offering is expected to generate a total of Rs. 5 Arba in funds for the bank. The “10% KBL Debenture 2090” is named after its key features, featuring a maturity period of 10 years and a fixed coupon rate of 10%.

    Nabil Investment Banking Limited took on the role of the issue manager for this debenture offering, overseeing the various aspects of the issuance process.

  • Gold Price in Nepal Drops by Rs. 500 per Tola, Silver Remains Stable

    Gold Price in Nepal Drops by Rs. 500 per Tola, Silver Remains Stable


    The price of gold in Nepal has experienced a decrease of Rs. 500 per tola on the latest trading day. According to the official website of the Federation of Nepal Gold and Silver Dealers’ Association, the current price of fine gold stands at Rs. 1,15,400 per tola. This marks a slight decline from the previous day’s rate, which was Rs. 1,15,900 per tola. In parallel, Tejabi gold is now being traded at Rs. 1,14,850, representing a decrease from yesterday when it was priced at Rs. 115,350 per tola.

    In contrast to the fluctuations in the gold market, the price of silver has remained stable at Rs. 1,415 per tola in Nepal.

    On the global scale, the current price of gold is at USD $1,983.30, while silver is trading at $23.12 per ounce.

  • Sanima Mai Hydropower Company Reports 6.02% Increase in Q1 Net Profit and Strategic Investments

    Sanima Mai Hydropower Company Reports 6.02% Increase in Q1 Net Profit and Strategic Investments


    Sanima Mai Hydropower Company Limited (SHPC) has reported a positive performance in the first quarter of the fiscal year 2080/81, demonstrating a 6.02% increase in net profit. The company’s net profit climbed to NPR 24.92 crores, up from NPR 23.5 crores in the same quarter of the previous year.

    This growth was primarily supported by a 2.43% increase in revenue generated from electricity sales, reaching NPR 32.98 crores. Additionally, SHPC managed to significantly reduce both plant operating expenses and financial expenses by 19.33% and 19.59%, respectively, in comparison to the previous year’s quarter.

    Up to the end of Ashwin 2080, the Mai Hydropower Plant (22MW) and Mai Cascade Hydropower Plant (7MW) generated impressive revenues of NPR 24.81 crores and NPR 8.17 crores, respectively.

    Furthermore, SHPC strategically invested a total of NPR 2.74 arba in subsidiary projects, including ventures in Swet Ganga Hydropower and Construction Limited, Sanima Middle Tamor Hydropower Limited, Mathilo Mailun Khola Jalvidhyut Hydropower Limited, Bavari Construction P Limited, and Sanima Jum Hydropower Limited. These investments underscore the company’s commitment to expansion and diversification.

    With a share capital of NPR 3.08 Arba and retained earnings of NPR 1.42 Arba, SHPC demonstrated an annualized Earnings Per Share (EPS) of NPR 32.37 and a net worth per share of NPR 164.17. The company’s Price/Earnings (P/E) ratio stands at 8.83 times.

     

  • Nabil Bank Limited Reports Q1 2080/81 Financials: Resilience Amidst Net Profit Dip

    Nabil Bank Limited Reports Q1 2080/81 Financials: Resilience Amidst Net Profit Dip


    Nabil Bank Limited (NABIL) has unveiled its comprehensive financial report for the initial quarter of the fiscal year 2080/81, offering valuable insights into the bank’s performance.

    During this quarterly review, the bank reported a 6.51% reduction in its net profit. Net profit decreased from NPR 1.57 Arba in the first quarter of FY 2079/80 to NPR 1.46 Arba in the corresponding quarter of FY 2080/81.

    Despite the decline in net profit, NABIL Bank showcased resilience and stability in various operational aspects. In the same quarter, the bank revealed a distributable profit of NPR 3.6 Arba after taking into account PL Appropriation and Regulatory Adjustments.

    NABIL Bank witnessed positive growth in customer deposits, with a notable increase of 4.54%, reaching NPR 4.14 Kharba compared to the previous year. Additionally, loans and advances to customers experienced a 6.27% growth, reaching NPR 3.53 Kharba in comparison to the previous year. The core business income, represented by Net Interest Income, exhibited significant growth, surging by 13.51% to NPR 4.17 Arba compared to the corresponding quarter of the previous year. However, impairment charges increased by 11.90%.

    NABIL’s financial foundation remains robust, with a paid-up capital of NPR 27.05 Arba, accompanied by reserves and surplus totaling NPR 28.39 Arba. Nevertheless, the Non-Performing Loan (NPL) ratio increased to 3.69%, necessitating ongoing attention.

    Regarding per-share performance metrics, the bank reported an annualized earnings per share (EPS) of NPR 21.72, and the Net worth per share was NPR 218.27. Importantly, the company had a Price/Earnings (P/E) multiple of 26.34 times.

    Nabil Bank Limited’s financial performance in the first quarter reveals a mixed scenario, with positive growth in core business income but a decline in net profit. The bank aims to address challenges associated with the increase in Non-Performing Loans while continuing to strengthen its financial reserves and customer-focused services.

  • Nepal Investment Mega Bank (NIMB) Reports Impressive Q1 2080/81 Profits with 33.47% Growth

    Nepal Investment Mega Bank (NIMB) Reports Impressive Q1 2080/81 Profits with 33.47% Growth


    Nepal Investment Mega Bank Limited (NIMB) has recently unveiled its first-quarter report for the fiscal year 2080/81, demonstrating a remarkable 33.47% surge in its net profit. The bank’s profit soared to NPR 1.52 Arba during this period, indicating a positive trend in its financial performance.

    In terms of financial standing, the same period disclosed a total paid-up capital of NPR 34.12 Arba, along with reserves amounting to NPR 25.89 Arba. However, the bank’s retained earnings were in the negative, standing at NPR 85.23 Crores.

    NIMB’s first-quarter report revealed total deposits reaching NPR 3.61 Kharba, while loans and advances to customers amounted to NPR 3.04 Kharba. Notably, the bank experienced a significant 95.40% increase in Net Interest Income, reaching NPR 4.16 Arba. On the flip side, the bank reported personnel expenses of NPR 96.14 Crores and impairment charges of NPR 64.06 Crores.

    During the first quarter, the bank achieved an annualized Earnings Per Share (EPS) of NPR 17.84, and the net worth per share was recorded at NPR 173.37. However, the Non-Performing Loans (NPL) spiked up to 4.83%. It’s important to note that the bank reported a negative distributable profit of NPR 85.32 Crores.

  • Auction of 100,000 Kumari Bank Limited Promoter Shares Commences for Existing Shareholders

    Auction of 100,000 Kumari Bank Limited Promoter Shares Commences for Existing Shareholders


    The current owner of Kumari Bank Limited (KBL) is initiating an auction for the sale of 100,000 units of shares exclusively to its existing promoter shareholders. Durga Prasad Pandey, a promoter of KBL, is the seller, and he is offering these 100,000 promoter shares for auction. Interested parties are invited to participate in this auction, and they have a 35-day window from the date of this notice’s publication, which falls on the 17th of Kartik.

    To participate, prospective investors must submit their bids at either of the following locations: the company’s central office situated at Kumari Capital Limited, located in Kathmandu-01, Naxal, Nagpokhari, or at Kumari Bank Limited itself. If no bids are received from the existing founder shareholders within the specified 35-day timeframe, the shares will be made available for auction to the general public at a later date.

    As of the most recent data available, Kumari Bank Limited (KBL) concluded trading at a share price of Rs. 155 on the previous trading day. In contrast, Kumari Bank Limited’s promoter shares (KBLPO) had a last traded price (LTP) of Rs. 101 on the 18th of October, 2023.

  • Gold Prices Surge by Rs. 700 Per Tola in Nepali Market

    Gold Prices Surge by Rs. 700 Per Tola in Nepali Market


    The price of gold, a highly valued precious metal, has witnessed a notable increase of Rs. 700 per tola compared to the trading price recorded on Wednesday. The Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) reported today that fine gold is currently being traded at Rs. 1,15,700 per tola, marking a Rs. 700 uptick from Wednesday’s trading rate of Rs. 1,15,000 per tola.

    In a similar fashion, Tejabi gold is available today at Rs. 1,15,150 per tola, demonstrating a price increase of Rs. 700 in comparison to yesterday’s rate, which stood at Rs. 1,14,450 per tola. It’s worth noting that just on October 29, 2023, gold prices reached historic levels, with fine gold commanding a remarkable price of Rs. 1,17,000 per tola, and Tejabi gold was trading at Rs. 1,16,450 per tola.

    Furthermore, the price of silver has also seen an uptick, with an increase of Rs. 20 per tola. The current market rate for silver stands at Rs. 1,405 per tola, up from yesterday’s closing rate of Rs. 1,385 per tola.

    On the international front, the current rate for gold stands at USD $1,985.30, while silver is being traded at $22.99 per ounce.

  • Nepal’s OTC Market Witnesses Surge in Trading Activity in Current Fiscal Year

    Nepal’s OTC Market Witnesses Surge in Trading Activity in Current Fiscal Year


    During the initial quarter of the current fiscal year, Nepal’s stock market saw a notable increase in over-the-counter (OTC) trading activity, registering a turnover of Rs. 1.71 Arba. What sets this OTC market apart is that a significant portion of these traded shares, approximately 36,721,120, belonged to companies not listed on the Nepal Stock Exchange (NEPSE) or had been previously delisted.

    The OTC market, also known as the off-board market, operates outside the regular trading hours of NEPSE and offers a platform for the trading of shares of companies that are not listed on NEPSE or have been delisted. Typically, OTC trading takes place from 11 AM to 1 PM on NEPSE, excluding public holidays and Fridays.

    To establish a structured framework for the OTC market, NEPSE introduced the ‘OTC Market Regulations, 2065’ in Jestha, 2065. This laid the groundwork for a distinct trading counter, separate from regular automated trading.

    Engaging in the OTC market entails investors directly submitting their buy and sell orders to the market, which NEPSE registers in sequential order. Buyers in the OTC market are required to provide company-specific purchase orders and deposit 10% of the share amount as collateral. This information, which includes the company’s name, investor details, and pricing, is displayed on the price quoting board. Subsequently, the market adjusts trading based on the received orders and price information, with transactions taking place when prices and quantities align.

    Regarding the clearance process, sellers must present the share certificates to the designated branch for verification within three business days. On the other hand, buyers are obligated to deposit the payment within the same duration at the bank specified by NEPSE. This process ensures the orderly execution of OTC transactions.

  • Gold Price Drops by Rs. 1,000 per Tola in Nepali Market, Silver Also Sees a Decline

    Gold Price Drops by Rs. 1,000 per Tola in Nepali Market, Silver Also Sees a Decline


    The price of gold has seen a significant drop today, declining by Rs. 1,000 per tola. As reported on the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs. 1,15,000 per tola, marking a decrease from the previous day when it stood at Rs. 116,000 per tola. Similarly, Tejabi gold is now priced at Rs. 114,450 per tola, down from Rs. 115,450 per tola, which was the rate maintained on the preceding day.

    In addition to the drop in gold prices, silver has also experienced a reduction in value, decreasing by Rs. 35 per tola. The current market rate for silver is Rs. 1,385 per tola, contrasting with the closing rate of Rs. 1,420 per tola from the previous day.

    On the international front, the current price of gold stands at USD $1,976.70 per ounce, and silver is trading at $22.61 per ounce. These international rates provide a broader context for understanding the fluctuations in the local gold and silver markets.

  • Multiple Citizens Mutual Funds Report NAV Changes and Financial Updates for Ashwin

    Multiple Citizens Mutual Funds Report NAV Changes and Financial Updates for Ashwin


    The “Citizens Super 30 Mutual Fund (C30MF),” a closed-end fund with a 10-year maturity, has released its Net Asset Value (NAV) report for the month of Ashwin. The NAV in Ashwin stands at Rs. 10.02, a decrease from Rs. 10.25 a month ago. The fund’s total size is Rs. 75.07 Crores, with investments of Rs. 28.40 crore in listed shares and Rs. 31.84 lakhs in non-listed shares. It has allocated Rs. 10 crore to fixed return assets, Rs. 2.25 crore to debentures, and Rs. 33.73 crore to the bank balance.

    However, the fund has reported an increased net loss of Rs. 1.54 crores up to Ashwin, whereas in the previous month, it had a net profit of Rs. 17.69 lakhs.

    Additionally, “Citizens Mutual Fund-1 (CMF1),” a 7-year closed-end mutual fund, has published its monthly report for Ashwin 2080. The NAV has decreased to Rs. 9.40 from Rs. 9.75. The fund, which began with a size of Rs. 82 crores, has investments of Rs. 46.52 crores in listed company shares and Rs. 29.90 lakhs in non-listed shares. It has allocated Rs. 4 crores to fixed return assets, Rs. 16.34 crores to debentures, and Rs. 7.71 crore to the bank balance.

    CMF1 has reported a net loss of Rs. 6.95 crores until Ashwin, whereas in the previous month, it reported a net loss of Rs. 4.02 crores.

    Lastly, “Citizens Mutual Fund-2 (CMF2),” another 7-year closed-end fund offered by Citizens Capital Limited, has released its NAV report for the month of Ashwin, 2080. The NAV has decreased to Rs. 9.16 by the end of Ashwin, down from 9.46 the previous month. The fund started with a size of Rs. 56 crores and invested Rs. 34.92 crores in listed company shares and Rs. 39.93 lakhs in non-listed shares. It allocated Rs. 10.08 crores to debentures and Rs. 3.40 crores to the bank balance.

    CMF2 has reported a net loss of Rs. 4.73 crores until the end of Ashwin, with a net loss of Rs. 3.05 crores in the previous month. It’s worth noting that CMF2 distributed an 8% cash dividend to its unitholders for the financial year 2079/80.