Category: Articles & Updates

  • “Last Two Days to Apply for Api Power Company’s 1:0.40 Right Shares”

    “Last Two Days to Apply for Api Power Company’s 1:0.40 Right Shares”


     

    The rights issue began on the 31st of Shrawan and is set to conclude tomorrow, the 19th of Bhadra, 2080, at the close of banking hours.

    The company’s current paid-up capital is Rs. 4.13 Arba, and it will rise to Rs. 5.78 Arba after the proposed rights issue. In this new offering, the hydropower company will distribute rights at a ratio of 1:0.40, resulting in a total of 1 crore 65 lakh 33 thousand 137 right shares with a face value of Rs. 100 each.

    The Securities Board of Nepal (SEBON) approved the issuance of these rights shares on Ashad 6. The company had formally applied for permission from the board on the 6th of Chaitra.

    Laxmi Capital Markets Limited has been appointed as the issue manager for this rights offering.

  • “NMB Bank Offers Rs 100 Cashback on Debit Card Transactions”

    “NMB Bank Offers Rs 100 Cashback on Debit Card Transactions”


     

    Customers can earn a cashback of NPR 100 when they choose to make swift and secure ATM withdrawals or transactions using Point of Sale (POS) terminals. This special offer is available for a limited time.

    NMB Bank has received the esteemed “Bank of the Year Asia 2021” award from ‘The Banker Magazine’ of The Financial Times in London. The bank has also won the Bank of the Year title in 2017, 2018, 2020, and 2021. NMB Bank offers its services through 201 branches, 144 ATMs, and 12 extension counters.

  • “Nepal Airlines Adds Bangalore Route via Kathmandu”

    “Nepal Airlines Adds Bangalore Route via Kathmandu”


     

    Nepal Airlines, the country’s flag carrier, is planning to launch flights to Bangalore, India, via a layover in Kathmandu. These flights will originate from Gautam Buddha International Airport in Bhairahawa.

    Starting on Jestha 29, Nepal Airlines will operate flights on the Bhairahawa-Kathmandu-Kuala Lumpur route every Tuesday.

    Beginning from Bhadra 12, the airline initiated ticket bookings for flights to Hong Kong and Delhi from Bhairahawa. Passengers can now book tickets for these destinations every Tuesday from Bhairahawa. The airline has expanded its route network to include Bangalore as well.

     

  • “Himalayan 80-20 Mutual Fund Scheme Receives Strong Demand”

    “Himalayan 80-20 Mutual Fund Scheme Receives Strong Demand”


     

    Himalayan Capital’s mutual fund scheme, Himalayan 80-20, has witnessed significant demand, with applications exceeding the available units by 1.076 times, as reported by the Central Depository System and Clearing Limited (CDSC). The application period ended with more applications than units available.

    By 5:06 p.m. on Friday, the scheme had received applications for 9.14 crores 61 thousand 820 units, while Himalayan Capital had initially issued 85 million units for the public.

    In total, 4 lakh 61 thousand 141 applications were submitted for mutual fund units, resulting in a collection of 1 crore 46 lakh 18 thousand 200 rupees from these applications.

     

  • “ICRA Nepal Rates SY Panel Nepal with BB Issuer Rating, Signifying Moderate Default Risk”

    “ICRA Nepal Rates SY Panel Nepal with BB Issuer Rating, Signifying Moderate Default Risk”


    ICRA Nepal Limited has assigned a credit rating of [ICRANP-IR] BB (pronounced as ICRA NP Issuer Rating double B) to SY Panel Nepal Limited. This rating indicates that SY Panel Nepal Limited carries a moderate risk of not meeting its financial obligations in a timely manner. It’s important to note that this rating reflects a general assessment of the company’s creditworthiness and is not specific to any particular debt instrument.

    For this rating scale, which ranges from [ICRANP-IR] AA to [ICRANP-IR] C, plus (+) or minus (-) signs may be added to the rating symbols to show their relative position within the respective categories. Therefore, [ICRANP-IR] BB+ signifies a slightly higher rating than [ICRANP-IR] BB, whereas [ICRANP-IR] BB- represents a slightly lower rating than [ICRANP-IR] BB.

     

  • “Closing Today: Public Issue of 8.5 Crore Units ‘Himalayan 80-20’ Mutual Fund Scheme”

    “Closing Today: Public Issue of 8.5 Crore Units ‘Himalayan 80-20’ Mutual Fund Scheme”


     

    Himalayan Capital Limited is concluding the public offering of its mutual fund scheme called “Himalayan 80-20” today, which is Bhadra 15, 2080. Initially, the offering started on the 32nd day of Shrawan and was supposed to end on the 4th day of Bhadra, 2080. However, due to a lack of sufficient applications, the closing date was extended to today.

    Out of a total of 10 crore unit shares, 15% or 1.50 crore units worth Rs. 15 crores were allocated to the fund sponsor, Himalayan Bank Limited. The remaining 8.50 crore units were made available to the general public starting from the 32nd day of Shrawan.

    According to CDSC (Central Depository and Clearing Company), as of 10 a.m. this morning, there have been a total of 44,762 applicants who have applied for 80,813,100 units worth Rs. 80.81 Crore.

  • “Global IME Balanced Fund 1 NAV: Rs. 9.82 as of Shrawan Month End”

    “Global IME Balanced Fund 1 NAV: Rs. 9.82 as of Shrawan Month End”


     

    In the month of Shrawan, the Net Asset Value (NAV) of “Global IME Balanced Fund – 1 (GIBF1)” dropped to Rs. 9.82 from the previous month’s Rs. 10.57. This closed-end fund, with a maturity period of 10 years, currently holds a total fund size of Rs. 1.02 Arba.

    The fund’s investments include Rs. 74.60 Crore in listed shares and Rs. 3.60 crore in non-listed shares. Additionally, it has Rs. 11.76 crores in the bank and holds other assets valued at Rs. 6.40 crores.

  • “ICRA Nepal Reaffirms AMC Quality 3 Rating for Citizens Capital’s Management”

    “ICRA Nepal Reaffirms AMC Quality 3 Rating for Citizens Capital’s Management”


     

    ICRA Nepal Limited has confirmed the Fund Management Quality Rating (FMQR) of [ICRANP] AMC Quality 3 (pronounced ICRA NP Asset Management Company Quality Three) for Citizens Capital Limited. This rating signifies that entities with AMC3 offer reasonable confidence in their management quality. It’s important to note that ICRA Nepal’s assessment doesn’t comment on legal adherence, financial performance, or future outlook of schemes overseen by the Asset Management Company.

    ICRA Nepal employs a rating scale ranging from AMC1 to AMC5, where AMC1 reflects the strongest management quality assurance, while AMC5 indicates weaker assurance in management quality. In cases of quality Ratings 2, 3, and 4, a “+” (Plus) sign can be added to indicate a relatively better position within the respective rating categories.

  • “NIC Asia Capital Reveals NAV Reports of Mutual Fund Schemes”

    “NIC Asia Capital Reveals NAV Reports of Mutual Fund Schemes”


     

    NIC Asia Capital, the manager of the 10-year closed-end mutual fund scheme called NIC Asia Balanced Fund (NICBF), has released the Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is recorded at Rs. 11.18, showing a slight decrease from the previous month’s Rs. 11.28.

    The scheme was initiated with an initial fund size of Rs. 75.50 crores. Among its investments, Rs. 39.12 crores have been placed in shares of listed companies, while Rs. 21.77 crores have been allocated to debentures. Additionally, the scheme has invested Rs. 65.68 lakhs in non-listed shares, and the remaining bank balance is Rs. 22.45 crores.

    During the month of Shrawan, the fund has achieved a net profit of Rs. 85.06 lakhs. In the preceding month, it had a net profit of Rs. 9.21 crores.

     

  • “Millennium Challenge Corporation (MCC) Project Implementation Starts”

    “Millennium Challenge Corporation (MCC) Project Implementation Starts”


     

    The much-anticipated Millennium Challenge Corporation (MCC) initiative is about to start on Wednesday. This project, spanning five years, will begin its implementation on August 30, 2023, which aligns with the 13th of August in the Nepali calendar. Today, the Ministry of Finance is organizing an event to officially announce this significant milestone.

    As per Article 7 of the agreement between the Nepali government and the American Cooperation Mission MCC, the effectiveness of the agreement depends on the date when MCC sends a letter to Nepal’s government. This letter confirms MCC’s readiness to carry out the agreement, provided that they are satisfied with the completion of necessary prerequisites.

     

  • “Sunrise Capital Releases Mutual Fund NAV Report for Shrawan Month”

    “Sunrise Capital Releases Mutual Fund NAV Report for Shrawan Month”


     

    Sunrise First Mutual Fund (SFMF), a closed-end fund with a 10-year maturity, has released its monthly Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is Rs. 12.90, slightly lower than the previous month’s Rs. 12.92.

    Starting with an initial capital of Rs. 86 crores, SFMF has made investments of Rs. 59.7 crore in listed shares and Rs. 18.07 crore in bonds and debentures until the end of Shrawan. Additionally, it has put Rs. 3.91 crore into public issues, rights issues, and bonus shares, and holds Rs. 8 crore in fixed deposits. The fund’s bank balance is Rs. 21.29 crores.

    In terms of profits, SFMF has reported a net profit of Rs. 4.91 crore for the month of Shrawan, a decrease from the Rs. 11.49 crore net profit in the preceding month.

     

  • “Barahi Sedi Chooses NMB Capital as Issue Manager for 11.60 Lakh Unit Share Offering”

    “Barahi Sedi Chooses NMB Capital as Issue Manager for 11.60 Lakh Unit Share Offering”


     

    Barahi Sedi, a hotel under construction in Pokhara’s Lakeside area, has selected NMB Capital as the issue manager for its upcoming public share offering of 1.16 million ordinary shares. The agreement was formalized through a Memorandum of Understanding (MoU) signed between Mr. Dipesh Kumar Vaidya, the CEO of NMB Capital, and Mr. Biplab Paudel, the Managing Director of the hotel. The hotel is slated to be a 5-star establishment with 150 rooms, 11 service houses, and various amenities, set to launch in 2025 according to the media statement.