Nepal Warehouse Company has obtained approval from SEBON (Securities Board of Nepal) to release 13.65 lakh ordinary shares to the public, with the offering scheduled for Ashoj 10, 2080.
The company has already established and initiated operations for a 40 MT warehouse in Sunsari and Parsa districts. Additionally, they are in the process of constructing a warehouse with a capacity of 15,000 MT in Kapilvastu, as mentioned in their official media statement.
NMB Bank recently acquired land in Kathmandu Metropolitan City Ward No.1 for the construction of a corporate office. The land and structure were valued at Rs. 1,21,39,68,750, and this decision was made during a board meeting on the 10th of Ashwin, 2080. The bank plans to proceed with the purchase of 105.5256 anna of land and the associated building once the property is officially transferred into the bank’s ownership.
The price of precious gold has fallen by Rs. 800 per tola (fine gold) today when compared to the trading price on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is currently being traded at Rs. 111,000 per tola, marking a decrease from Tuesday’s price of Rs. 111,800 per tola.
Similarly, Tejabi gold can now be purchased at Rs. 110,450 per tola, in contrast to the previous day’s price of Rs. 111,250 per tola.
In a similar vein, the price of silver has declined by Rs. 15 today in comparison to Tuesday’s rate and is now available in the market at Rs. 1,385.
Godrej has introduced a special festival-themed promotion for customers buying their home appliances. Under this scheme, customers will enjoy exclusive cash discounts and other gifts when purchasing Godrej products.
Customers can benefit from a generous 25% discount when buying Godrej products. Additionally, customers will receive a 6 kg pack of Arial washing powder when purchasing a front-load washing machine, a 3-liter bottle of Arial wash liquid for buying a top-load or semi-automatic washing machine, and a CG induction cooker for purchasing Godrej refrigerators. Moreover, customers will enjoy complimentary delivery, installation services, and the convenience of 0% EMI options when purchasing new products, as stated in the media release.
The Securities Board of Nepal (SEBON) is looking to make important changes to the rules governing hydropower companies, especially regarding the issuance of Initial Public Offerings (IPOs) and right shares. These changes will involve updates to the regulations related to registering and removing hydropower companies.
Hydropower companies often raise capital by selling shares to the public. However, concerns have arisen when these companies prioritize profits over their intended goals. To address this, SEBON is thinking about introducing new provisions to ensure that the registration and removal of hydropower companies are more organized and transparent.
Sanima Bank Limited (SANIMA) has scheduled its 19th Annual General Meeting (AGM) for the 2nd of Kartik, 2080, starting at 11 a.m. The AGM will take place at Kundalini Durbar Banquet in Kathmandu.
One of the main agenda items for the AGM is the approval of a 14.7% dividend for the fiscal year 2079/80. This dividend includes a 5.7% cash dividend and 9% bonus shares from the company’s paid-up capital. The total paid-up capital of the company is Rs. 12.46 Arba, with bonus shares valued at Rs. 1.12 Arba. It’s important to note that the cash dividend already covers the tax amount for the bonus shares.
Additionally, the AGM will address the approval of the auditor’s report, which includes PL statements, financial reports, and cash flow reports, and the appointment of an auditor for the fiscal year 2080/81.
The book closure date for entitlement to the dividend payout and AGM attendance is Ashwin 22. Shareholders holding shares on this date will be eligible for both.
Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering. The company originally initiated its rights offering on the 18th of Bhadra, 2080, with the intention of closing the offering on the 7th of Ashwin. However, as per an official notice, the rights offering period has been extended, and it will now conclude on the 22nd of Ashwin, 2080.
This rights offering involves Upper Tamakoshi Hydropower issuing 100% right shares, totaling Rs. 10.59 Arba, through the issuance of 105,900,000 units of right shares to its existing shareholders. Following the adjustment for the proposed right shares, the company’s paid-up capital will see a substantial increase, reaching Rs. 21.18 Arba.
Sunrise Capital Limited has been appointed as the issue manager responsible for overseeing this rights issue, ensuring its smooth execution and adherence to regulatory procedures.
The book closure date for this rights offering had initially been set for the 26th of Shrawan, 2080. Consequently, shareholders who have maintained their holdings until this specified date will be considered eligible to participate in the rights offering, allowing them the opportunity to subscribe to additional shares in the company.
The existing promoters of Unnati Sahakarya Laghubitta Bittiya Sanstha (USLB) Limited have initiated an auction process for 4,960 units of shares. This auction is open to interested promoter shareholders, as well as the general public and institutions, and it will run from the 5th Ashwin to the 14th Ashwin, 2080.
The auction specifically involves 4,960 units of promoter shares of USLB, and eligible participants, including promoter shareholders, the general public, and institutions, can submit their bids. The minimum bid rate for these shares has been set at Rs. 500 per unit, with a requirement that the minimum bid quantity for promoter shares must be 4,960 units.
The auction management responsibilities are being handled by NIMB Ace Capital, and the opening of bids is scheduled to take place at the premises of the auction manager on the 15th of Ashoj, 2080, at 3 PM.
As of the current status, USLB has a Last Traded Price (LTP) of Rs. 708, which is relevant information for potential investors considering participation in the auction. This auction provides an opportunity for interested parties to acquire USLB promoter shares at the specified terms and conditions.
The current promoters of NIC Asia Bank Limited (NICA) have initiated an auction process for the sale of 500,000 units of their promoter shares. This auction is open to interested promoter shareholders as well as the general public and institutions. The auction period runs from the 4th Ashwin to the 10th Ashwin of the year 2080.
During this auction, a total of 500,000 promoter shares of NICA will be made available. Interested parties, including eligible promoter shareholders, have the opportunity to submit bids. The minimum bid rate for these shares is set at Rs. 360 per unit, and the minimum bid quantity for promoter shares is 1,000 units.
To manage the auction process, NIMB Ace Capital has been appointed as the designated auction manager. Bidding will officially commence at the auction manager’s premises on the 12th Ashoj of the year 2080 at 2 PM.
As of the time of this update, NICA’s Last Traded Price (LTP) stands at Rs. 805 per share. This auction provides an opportunity for interested parties to acquire promoter shares in NICA and potentially participate in the bank’s ownership.
The Securities Board of Nepal has granted approval to Citizens Bank International Limited’s ‘10% Citizens Bank Bond 2080.’ This regulatory clearance was given on the 29th of Bhadra, 2080.
The ‘10% Citizens Bank Bond 2080’ offering consists of a total of 30 lakh units, with each unit having a par value of Rs. 1,000. Out of the overall issuance, 12 lakh units are designated for the general public, while the remaining 18 lakh units will be made available through private placement.
Himalayan Capital Limited has been selected to serve as the issue manager for this bond offering.
As the name implies, the ‘10% Citizens Bank Bond 2080’ comes with a maturity period of 10 years, set to reach maturity in the year 2090 BS. Investors holding these debentures can anticipate an annual return of 10% on their investment.
Maha Prasad Adhikari, the Governor of the Nepal Rastra Bank (NRB), has emphasized that Nepal’s trade deficit could be effectively addressed if the country could export power worth Rs 130 billion annually. In a meeting with the office-bearers of the Independent Power Producers’ Association, Nepal (IPPAN), Governor Adhikari highlighted the potential of power export as a means to reduce the trade deficit.
Governor Adhikari pledged that the Nepal Rastra Bank is committed to facilitating the development of the hydropower sector in the country. During the meeting, IPPAN President Ganesh Karki proposed a requirement for banks and financial institutions to allocate 20% of their total investments to the energy sector. Governor Adhikari responded by expressing confidence in banks’ ability to invest, even if Nepal were to generate 20,000 megawatts of electricity in the next decade.
IPPAN, however, stated that they require around Rs 555 billion within five years to develop projects for generating approximately 3,700 megawatts of power. In a 10-year timeframe, this requirement increases to about Rs 2,055 billion, assuming power export agreements with India are considered. The figure rises to over Rs 3,750 billion if an additional 25,000 megawatts of electricity, as per the Energy Decade declaration, were to be produced.
IPPAN requested that the NRB’s loan provision, which currently allows projects producing over 200 megawatts to receive loans with just a 1% addition to the base interest rate, be extended to all hydropower projects. They also highlighted banks’ reluctance to invest further in hydropower due to NRB directives, which prevent the distribution of interest income during the construction phase as dividends.
Furthermore, IPPAN called for the continued sharing of bonuses generated during the construction phase and urged the government to facilitate the introduction of new financial instruments like green bonds, climate bonds, or sovereign bonds from international markets. They sought the NRB’s support for refinancing in clean energy due to high interest rates imposed by financial institutions in the energy sector.
In response, the NRB governor acknowledged that matters related to bonds fall under the Finance Ministry’s jurisdiction but expressed the central government’s willingness to facilitate such initiatives. IPPAN also urged the NRB to introduce provisions allowing banks and financial institutions to invest in energy production as capital and requested eased rules and provisions related to investment, bonuses, and withdrawal of investments for international investors to achieve their ambitious goal of generating 25,000 megawatts of electricity and importing 15,000 megawatts in the next decade.
The IPPAN delegation included Vice President Mohan Kumar Dangi and former President Shailendra Guragain, among others, while the NRB meeting included Deputy Governor Bam Bahadur Mishra, executive directors Dr. Gunakar Bhatta, and Dev Kumar Dhakal.
Today, the price of gold in Nepal has seen a notable increase, rising by Rs. 500 per tola. According to information provided by the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs. 113,000 per tola. This marks a rise from yesterday’s rate, which was maintained at Rs. 112,500 per tola. Additionally, Tejabi gold is now trading at Rs. 112,450 per tola, as opposed to yesterday’s rate of Rs. 111,950 per tola.
In tandem with the increase in gold prices, silver has also experienced a gain of Rs. 5 per tola. In the local market, silver is now being traded at Rs. 1,410 per tola, whereas it closed at Rs. 1,405 per tola just yesterday.
For those tracking international rates, the current price of gold in USD stands at $1,931.20 per ounce, while silver is valued at $23.16 per ounce in the global market.