Category: Articles & Updates

  • “Federal: First Reinsurance Broker in Nepal to Achieve ISO 9001:2015 Certification”

    “Federal: First Reinsurance Broker in Nepal to Achieve ISO 9001:2015 Certification”


    During an official event at FRBL’s headquarters in Kathmandu on August 27, 2023, Mr. Prakash Poudel, the Country Director of United Registrar of Systems (URS), presented the certification to FRBL’s chairman, Mr. Mahesh Kumar Agrawal. The occasion was attended by FRBL’s Board members, leadership team, staff, and URS Nepal representatives. Mr. Poudel congratulated FRBL for achieving the ISO 9001:2015 certification, highlighting its role in ensuring effective operations, streamlined processes, and customer satisfaction.

    Mr. Subarna Paudel, the Managing Director of FRBL, expressed gratitude for the collaborative efforts of FRBL’s management and URS Nepal. He described the ISO 9001:2015 certification as a significant milestone, validating their dedication to excellence and their commitment to providing exceptional reinsurance broker services to clients.

     

  • “CDSC Launches SMS Alerts for Right Share Notifications”

    “CDSC Launches SMS Alerts for Right Share Notifications”


     

    CDSC, in partnership with associated firms, has begun informing investors about the launch of rights shares through mobile messages, starting today (Bhadra 12th), to meet investor demands. The first batch of notifications has been sent to 38,327 out of 70,000 investors of Synergy Power Development Limited (SPDL). CDSC plans to send messages to the rest as well. However, the process is hindered by incorrect contact numbers (some not nine-digit) and even landline numbers provided by certain investors, posing difficulties in message delivery.

     

  • “Kumari Capital’s Mutual Fund Schemes Experience NAV Decline After Losses in Baisakh”

    “Kumari Capital’s Mutual Fund Schemes Experience NAV Decline After Losses in Baisakh”


     

    “Kumari Capital Releases NAV Report for KEF, KDBY, and KSLY in Shrawan 2080”

    Kumari Capital has disclosed the Net Asset Value (NAV) reports for Kumari Equity Fund (KEF), Kumari Dhanabriddhi Yojana (KDBY), and Kumari Sunaulo Lagani Yojana (KSLY) for the month of Shrawan, 2080.

    In this period, Kumari Equity Fund (KEF) exhibits a fund size of Rs. 1 billion. The NAV for Shrawan is recorded at Rs. 10.81, as opposed to the previous month’s Rs. 11.03. The fund’s investments include Rs. 71.34 crore in listed company shares, Rs. 1.28 crore in public offerings like right shares and bonus shares, along with Rs. 15.87 crores in bonds/debentures and Rs. 2 crores in fixed deposits.

  • “Broker 75 Mega Stock Markets Commences Operations”

    “Broker 75 Mega Stock Markets Commences Operations”


     

    Mega Stock Markets Limited, identified with broker number 75, has officially commenced its operations on Bhadra 8, 2080. The inaugural event, marked by a formal ceremony, was graced by the presence of key figures including the company’s chairman, Dr. Govinda Nepal, Mr. Ramesh Kumar Hamal, the chairman of SEBON, Mr. Prithivi Bahadur Pande, the chairman of Nepal Investment Mega Bank, and Mr. Krishna Bahadur Karki, the CEO of Nepal Stock Exchange, among others, according to the information provided by the media statement.

     

  • “Jalpa Samudayik Laghubitta’s 14.25% Bonus Shares Listed on NEPSE”

    “Jalpa Samudayik Laghubitta’s 14.25% Bonus Shares Listed on NEPSE”


     

    Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) has successfully listed 2,28,000 units of bonus shares on the Nepal Stock Exchange (NEPSE). The company organized its fourth Annual General Meeting (AGM) on the 4th of Ashad and confirmed a 15% dividend for the fiscal year 2078/79. The company’s board of directors decided to allocate this dividend to its Rs. 16 Crores paid-up capital. The proposed dividend includes a 0.75% cash dividend amounting to Rs. 12 lakhs and a 14.25% bonus share valued at Rs. 2.28 crores. These same bonus shares are now officially listed on the NEPSE.

     

  • “Siddhartha Capital Announces Book Closure Date for Mutual Fund Dividend”

    “Siddhartha Capital Announces Book Closure Date for Mutual Fund Dividend”


     

    Siddhartha Capital Limited has announced the date for the book closure regarding dividends for its mutual funds. The deadline is set for the 13th of Bhadra. Investors who hold units before this date will be eligible to receive the dividend payments.

    During a Board of Directors meeting on the 32nd of Shrawan, Siddhartha Capital Limited decided to distribute dividends to its mutual fund unit holders. For the fiscal year 2079/80, a 5% cash dividend amounting to Rs. 7.5 Crores will be given to unit holders of Siddhartha Equity Fund (SEF), while a 6.5% cash dividend (inclusive of tax) totaling Rs. 7.8 Crores will be distributed to unit holders of Siddhartha Investment Growth Scheme – 2 (SIGS2).

     

  • “HDHPC’s Auction Sets Cut-off Rate at Rs. 120”

    “HDHPC’s Auction Sets Cut-off Rate at Rs. 120”


     

    On August 20, 2023, Himal Dolakha Hydropower Company Limited (HDHPC) initiated the bidding process for 15,77,211 units of its regular shares available for the public. These shares were part of the remaining portion from their rights offering. Initially, the company had offered a 1:0.75 ratio right share opportunity to its eligible shareholders between 22nd Jestha and 25th Ashad, 2080. The unsold right shares were then put up for auction to the general public from 22nd to 29th Shrawan, 2080. The auction was managed by Laxmi Capital Market, with the final bid cut-off rate set at Rs. 120.

     

  • “Intense Competition Propels Life Insurers to Collect Rs. 1.42 Kharba in Premiums Until Ashad”

    “Intense Competition Propels Life Insurers to Collect Rs. 1.42 Kharba in Premiums Until Ashad”


     

    Life insurance companies are currently in a strong competition to increase their premium collections. In the fiscal year 2079/80, until the month of Ashad, they collected a significant amount of Rs. 1.42 Kharba in premiums. This achievement was made possible by the hard work across 1.41 crore active insurance policies.

    According to a report from the Nepal Insurance Authority, Reliable Nepal Life Insurance Company Limited is leading with the highest number of active policies, at 3,344,435. National Life Insurance Company Limited comes next with 1,609,278 policies. On the lower side, Mahalaxmi Life Insurance has 35,015 active policies.

  • “Synergy Power Development Launches 1:0.5 Right Share Issue Today”

    “Synergy Power Development Launches 1:0.5 Right Share Issue Today”


    Synergy Power Development Limited (SPDL) has announced the commencement of a new issuance, offering a 2:1 (or 1:0.5) ratio of 4,032,875 units of right shares to its current shareholders. Priced at a par value of Rs. 100 per share, the issuance started on 3rd Bhadra and will continue until the closing date on 24th Bhadra, 2080, during office hours.

    This hydropower company is introducing 50% right shares, equivalent to Rs. 40.32 Crores in value, through the distribution of 4,032,875 units of right shares to its existing shareholders. With a current paid-up capital of Rs. 80,65,75,000, the company’s paid-up capital is set to grow to Rs. 120.98 Crores following the adjustment for the proposed right share issuance.

     

  • “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”

    “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”


     

    Prabhu Capital has entered into an agreement with Total Physical Fitness Centre to offer customers a 28% discount and a complimentary sauna coupon. This exclusive deal can be accessed by clients of the merchant bank by providing their demat service number. The Memorandum of Understanding (MoU) was formalized during a ceremony, involving Prabhu Capital’s CEO Mr. Aasis Gauchan and Total Physical Fitness Centre’s MD Mr. Suman Pandit, according to a media statement.

  • “Garima Bikas Bank Introduces 11.99% Fixed Interest Home and SME Loans”

    “Garima Bikas Bank Introduces 11.99% Fixed Interest Home and SME Loans”


     

     

    Garima Bikas Bank has introduced two new loan programs: Garima Easy Home and SME loans, both with a competitive interest rate of 11.99%. Borrowers can benefit from a fixed interest rate of 11.99% over a seven-year term under these new schemes.

    The bank’s extensive network consists of 121 branches and 50 ATM outlets, providing convenient access to its services.

  • “SEBON Grants Licenses to Five New Brokerage Firms”

    “SEBON Grants Licenses to Five New Brokerage Firms”


     

    The Securities Board of Nepal (SEBON) has recently approved licenses for five new brokerage firms. Sajilo Broker Company Ltd, Roadshow Securities Ltd, and Beni Securities Pvt. Ltd have been granted licenses for limited stock broking services, while Himalayan Securities Ltd and Sunny Securities Company Ltd. have been approved as full operating brokerage service providers. These licenses were awarded based on the evaluation of meeting required infrastructure criteria. Earlier, SEBON had issued preliminary licenses or letters of intent to 43 companies in three separate phases.