Category: IPO | FPO

  • Mathillo Mailun Khola Jalvidhyut IPO Allotment Concluded; 128,420 out of 11,85,642 Valid Applicants Get 10 Units Each

    Mathillo Mailun Khola Jalvidhyut IPO Allotment Concluded; 128,420 out of 11,85,642 Valid Applicants Get 10 Units Each


    The IPO allotment process for Mathillo Mailun Khola Jalvidhyut Limited has been successfully completed at the offices of the issue manager, Sanima Capital Limited in Kathmandu. The company had previously offered 12,84,200 unit IPO shares at a par value of Rs. 100 to the general public during the period from the 18th to the 22nd of Ashwin in the year 2080.

    Prior to this, the company had issued 10,00,000 unit shares to project-affected individuals from Rasuwa and Nuwakot Districts, of which only 990,800 units were allocated to eligible applicants. Consequently, the remaining 9,200 units of unsubscribed shares from project-affected locals were combined with the 15,00,000 units designated for the general public.

    Out of the total 15,09,200 units offered to the public, 1,50,000 units were already issued and assigned to Nepalese citizens working abroad, and 75,000 units were allocated for mutual funds. The remaining 12,84,200 units were earmarked for the general public.

    The IPO offering received an overwhelming response with applications from 11,85,642 valid applicants who collectively applied for a total of 1,28,66,060 units. This level of interest resulted in an oversubscription rate of over 10.01 times. In accordance with the allotment module, 128,420 applicants were selected via lottery and allotted 10 units each, while the remaining 10,57,222 applicants did not receive any shares.

    Furthermore, 75,000 units were allotted to mutual funds, and 4,654 applicants who had applied for 65,220 units were disqualified from receiving any shares.

    The IPO results are accessible through CDSC IPO Result, MeroShare, and Sanima Capital Limited. Additionally, CARE Ratings Nepal Limited (CRNL) has assigned a ‘CARE-NP BB-‘ rating to Mathillo Mailun Khola Jalvidhyut Limited, indicating a moderate risk of default concerning the timely servicing of financial obligations in Nepal.

    Mathillo Mailun Khola Jalvidhyut Limited is a public limited company, established on August 14, 2012. It is promoted by institutional investors, predominantly associated with the Sanima Hydro group, as well as other institutions such as banks and insurance companies. The company’s primary purpose is to establish a 14.3 MW run-of-river Mathillo Mailun Khola Jalvidhyut Project in the BOOT (Build, Own, Operate and Transfer) mechanism, situated in the Rasuwa district of Nepal.

  • Himalayan Reinsurance Announces IPO for Nepalese Citizens Abroad, Aiming to Raise Rs. 61.8 Crores

    Himalayan Reinsurance Announces IPO for Nepalese Citizens Abroad, Aiming to Raise Rs. 61.8 Crores


    Himalayan Reinsurance Limited has announced its plans to issue an Initial Public Offering (IPO) aimed at Nepalese citizens working abroad. The company intends to offer 30,00,000 unit shares, and the subscription period will be open from the 21st Kartik, concluding on the 5th Mangsir in the year 2080.

    The total issued capital of the company stands at Rs. 10 Arba, out of which 30%, equivalent to 3,00,00,000 unit shares, will be made available to the public, including Nepalese citizens working abroad and the general public. Of this total issuance, 10% or 30,00,000 unit shares are specifically reserved for Nepalese citizens working abroad, with their subscription period commencing on the 21st Kartik.

    Additionally, 2% of the offered shares, totaling 600,000 units, have been set aside for the company’s employees, while 5% or 15,00,000 units have been allocated for mutual funds. The remaining 2,49,00,000 units will be made accessible to the general public at a later date.

    The shares are set to be issued at a price of Rs. 206 per share, which includes a premium of Rs. 106 per share on top of the Rs. 100 face value. This IPO offering is expected to raise Rs. 61.8 crores for the company.

    NMB Capital Limited has been appointed as the issue manager for this IPO. Investors can apply for a minimum of 10 units and have the opportunity to subscribe to a maximum of 300,000 units.

    Himalayan Reinsurance is the second reinsurance company in Nepal to issue an IPO. As a pioneering private-sector reinsurance firm, it specializes in providing reinsurance support to both Life and Non-Life Insurance Companies within Nepal and on an international scale. The company received its operational license in 2021.

    Prominent promoters of Himalayan Reinsurance include leading business conglomerates in Nepal and significant financial institutions, such as Golchha Group, Shanker Group, Infinity Holdings, and others, along with two major government-owned banks: Nepal Bank Limited and Rastriya Banijya Bank Limited.

    ICRA Nepal has reaffirmed Himalayan Reinsurance Limited with an issuer rating of [ICRANP-IR] A-. This rating reflects a reasonable degree of safety concerning the timely fulfillment of financial obligations, signifying low credit risk for investors.

  • Vision Lumbini Urja Company Limited Opens IPO Subscription with Additional Units for the Public

    Vision Lumbini Urja Company Limited Opens IPO Subscription with Additional Units for the Public


    Vision Lumbini Urja Company Limited is set to initiate the issuance of its 20,75,285 unit Initial Public Offering (IPO) shares starting on the 16th Kartik, 2080. The closing date for the early subscription period for these shares is the 20th Kartik, with the option for an extension up to the 1st Mangsir, 2080, if the issue is not fully subscribed.

    Previously, the company had allocated 19,12,500 unit shares to individuals affected by the company’s projects in Kaski District. However, only 14,24,590 units were allotted to eligible applicants. Consequently, the remaining 4,87,910 units of unsubscribed shares from project-affected locals have been combined with the 19,12,500 units to create a total of 24,00,410 units available to the general public.

    Of these total shares, 191,250 units have already been issued and assigned to Nepalese citizens working abroad, 95,625 units are earmarked for mutual funds, while 38,250 units are reserved for company employees. The remaining 20,75,285 units are open for general public subscription.

    The per-share price for these shares is set at Rs. 100. Muktinath Capital Limited is entrusted with the role of the issue manager. Investors can apply for a minimum of 10 units, with an upper limit of 380,000 units.

    ICRA Nepal has reaffirmed its credit ratings for Vision Lumbini Urja Company Limited, maintaining a long-term rating of [ICRANP] LBB- and a short-term rating of [ICRANP] A4 for the company’s loan limits.

    Vision Lumbini Urja Company Limited is actively engaged in the development of the 25-MW Seti Nadi Hydroelectric Project, located in the Machhapuchchhre rural municipality of Kaski District in the Gandaki Province of Nepal. The project is classified as a run-of-the-river (R-o-R) type and is designed to operate at a 44.5% probability of exceedance. This information outlines the details of the upcoming IPO and the company’s project endeavors.

  • Vision Lumbini Urja IPO Shares Allocated to Kaski Locals, Future Public Offering Planned

    Vision Lumbini Urja IPO Shares Allocated to Kaski Locals, Future Public Offering Planned


    Vision Lumbini Urja Company Limited has completed the allocation of its Initial Public Offering (IPO) shares to project-affected individuals in Kaski District. The distribution took place on Wednesday, 1st Kartik, at the office of Muktinath Capital Limited, the appointed issue manager for the IPO.

    The company’s total issued capital is Rs. 1.91 Arba, out of which 10% or 19,12,500 unit shares valued at Rs. 19.12 Crores were reserved for project-affected locals in Kaski District. An additional 10% of the company’s issued capital, equivalent to 19,12,500 unit shares, will be made available to the general public at a later date. Within this public issue, 10% of the shares, totaling 1,91,250 units, were specifically allocated for Nepalese citizens working abroad, and the subscription period for these shares concluded on 15th Ashwin, 2080.

    In an official notice, the company reported that approximately 14,24,590 units, or 74.48% of the total issued shares, have been allocated to eligible applicants. Consequently, the remaining 4,87,910 units will soon be offered to the general public, in addition to the 19,12,500 units earmarked for public issuance, representing 10% of the company’s issued capital.

    ICRA Nepal has reaffirmed its credit ratings for Vision Lumbini Urja Company Limited, maintaining a long-term rating of [ICRANP] LBB- and a short-term rating of [ICRANP] A4 for the company’s loan limits.

    Vision Lumbini Urja Company Limited is actively engaged in the development of the 25-MW Seti Nadi Hydroelectric Project, situated in the Machhapuchchhre rural municipality of Kaski District in the Gandaki Province of Nepal. The project is classified as a run-of-the-river (R-o-R) type and is designed to operate at a 44.5% probability of exceedance. This information provides an overview of the recent developments and financial standing of the company.

  • Solu Hydropower and Taksar Pikhuwa Khola Hydropower Seek Approval for IPOs in Nepal

    Solu Hydropower and Taksar Pikhuwa Khola Hydropower Seek Approval for IPOs in Nepal


    Solu Hydropower Limited’s Initial Public Offering (IPO) has been added to the approval pipeline of SEBON (Securities Board of Nepal). The company intends to issue 20,000,000 unit shares to both local and general investors, with the IPO expected to generate a total of Rs. 2 Arba.

    Nabil Investment Banking Limited has been designated as the issue manager responsible for overseeing the IPO process. The application for this IPO was submitted to SEBON on Ashwin 23, 2080.

    Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned an issuer rating of IRN BB (Is) [Double B (Issuer)] to Solu Hydropower Limited. This rating suggests a moderate level of default risk in terms of meeting financial obligations.

    Similarly, the IPO proposal of Taksar Pikhuwa Khola Hydropower Limited has also been included in SEBON’s IPO pipeline. Taksar Pikhuwa Khola Hydropower Limited has presented a proposal to the capital market regulator to issue a total of 4,230,668 shares to both local and general investors, raising an amount of Rs. 42.30 crores for the company. The application for this IPO was submitted on Ashwin 26, 2080.

    Prabhu Capital Limited has been appointed as the issue manager for the public offering of Taksar Pikhuwa Khola Hydropower Limited.

    CARE Ratings Nepal Limited (CRNL) has reaffirmed a rating of ‘CARE-NP BB’ for the long-term bank facilities of Taksar Pikhuwa Khola Hydropower Private Limited (TPKH).

  • SEBON Approves IPO Proposal of Himalayan Re-insurance Limited, Premium Price Revised to Rs. 206 Per Share

    SEBON Approves IPO Proposal of Himalayan Re-insurance Limited, Premium Price Revised to Rs. 206 Per Share


    The Securities Exchange Board of Nepal (SEBON) has granted approval for the proposed initial public offering (IPO) of Himalayan Re-insurance Limited. This reinsurance company plans to issue 30,000,000 equity shares to the general public at a price of Rs. 206 per share, with a face value of Rs. 100 and a premium of Rs. 106 per share. This IPO issuance aims to raise a total of Rs. 6.18 Arba for the company. It’s noteworthy that the initial IPO price was set at Rs. 208 per share but has been revised to Rs. 206.

    The responsibility of managing this IPO issuance has been entrusted to NMB Capital Limited, and the application for SEBON’s approval was submitted on the 26th of Bhadra, 2080. Himalayan Re-insurance Limited is poised to become the second reinsurance company in Nepal to offer an IPO to the public.

    Himalayan Reinsurance, a pioneering private-sector reinsurance firm in Nepal, specializes in providing reinsurance support to both Life and Non-Life Insurance Companies, both within Nepal and internationally. The company obtained its operational license in 2021.

    The prominent promoters of Himalayan Reinsurance include leading business conglomerates in Nepal and significant financial institutions. Notable names among the promoters are Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles. Additionally, two of Nepal’s prominent commercial banks, Nepal Bank Limited and Rastriya Banijya Bank Limited, are among the promoters.

    As of the end of the third quarter, Himalayan Reinsurance had a paid-up capital of Rs. 7 Arba and maintained reserves and a surplus of Rs. 38.58 crores. The company displayed significant growth in Net Premium, with a remarkable 612.61% increase, totaling Rs. 3.38 Arba up to the third quarter of the fiscal year 2079/80.

    ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- (pronounced ICRA NP Issuer Rating A Minus) for Himalayan Reinsurance Limited. This rating indicates a reasonable level of safety regarding the timely servicing of financial obligations and suggests low credit risk associated with the company.

  • IPO Allotment for Mathillo Mailun Khola Jalvidhyut Oversubscribed by 10.83 Times

    IPO Allotment for Mathillo Mailun Khola Jalvidhyut Oversubscribed by 10.83 Times


    The IPO allotment for Mathillo Mailun Khola Jalvidhyut Limited is scheduled for this Friday, specifically on the 3rd of Kartik, 2080. The allotment process will take place at the premises of the issue manager, Sanima Capital, located in Kathmandu.

    Out of the total offering of 15,09,200 units, a portion of 1,50,000 units has been earmarked for Nepalese citizens working abroad, while another 75,000 units have been allocated for mutual funds. The remaining 12,84,200 units are set aside for the general public, with each unit valued at its par value of Rs 100.

    Data from the Central Depository and Clearing Company (CDSC) reveals that a staggering 12,51,183 applicants have applied for a total of 13,901,800 units, amounting to Rs. 1.39 Arba. Consequently, it’s evident that the offering has been significantly oversubscribed by a factor of 10.83 times up until the closing day.

    Analyzing these statistics, it becomes apparent that only 1,28,420 fortunate applicants will be granted ownership of shares in the company.

    CARE Ratings Nepal Limited (CRNL) has bestowed a rating of ‘CARE-NP BB-‘ upon Mathillo Mailun Khola Jalvidhyut Limited. This rating signifies that issuers with this rating are associated with a moderate level of risk regarding their ability to meet financial obligations punctually within the context of Nepal.

  • Maruti Cements AGM: FDI-Backed Company to Convert Preference Shares, Issue Premium IPO

    Maruti Cements AGM: FDI-Backed Company to Convert Preference Shares, Issue Premium IPO


    Maruti Cements Limited has officially announced its 29th Annual General Meeting (AGM), scheduled to be held on the 21st of Kartik, 2080, at the company’s headquarters in Biratnagar, commencing at 11:30 AM.

    A key focus of the AGM is the company’s proposal to distribute a 10% cash dividend, inclusive of applicable taxes, to its preferred shareholders. This dividend will be sourced from the profits and accumulated profits earned during the fiscal year 2079/080. Furthermore, the company is planning to grant bonus shares to its shareholders, as suggested by the Board of Directors, although the specific percentage is not mentioned in the notice.

    The AGM will also address the potential conversion of the company’s existing preference shares into ordinary shares, a proposal initiated by the board of directors. This conversion is subject to the profits and accumulated profits from the year 2079/80. At present, the company holds 30,00,000 (Thirty Lakh) Preference Shares, each valued at Rs 100.

    In addition to these matters, the company intends to offer rights to the paid-up capital once the bonus shares and preference share conversion processes are finalized. Subsequently, Maruti Cements Limited has expressed its intention to proceed with the issuance of an Initial Public Offering (IPO) at a premium.

    Maruti Cements Limited boasts an annual installed capacity of 0.456 million metric tons, contributing to a significant 3.042% of the national installed capacity. It’s noteworthy that Gravity Sales Pvt. Ltd., an Indian-based company, holds a substantial 21% stake in the company. The enterprise is under the management of industrialists and trading sectors in Nepal, with affiliations to the Rathi group and Goyal group of companies, and all shares are held by the promoters. Notably, Mr. Nand Kishore Rathi is the Chairman of the company and is well-regarded, with ties to NMB Bank and Kumari Bank.

  • Sonapur Minerals and Oil Limited IPO Allotment: 10 Units for 10,40,770 Applicants, 8,638 Go Empty-Handed

    Sonapur Minerals and Oil Limited IPO Allotment: 10 Units for 10,40,770 Applicants, 8,638 Go Empty-Handed


    Sonapur Minerals and Oil Limited made an initial offering of 97,32,544 IPO shares with a par value of Rs 100 to the general public from Asoj 14 to Ashwin 18, 2080. Prior to this, the company had issued 15,37,525 shares to locals affected by the project in Dang and Rolpa District, with only 1,34,520 units allocated to valid applicants. As a result, the remaining 14,03,005 units of unsubscribed shares from the project-affected locals have been combined with 1,07,62,675 units (which represents 35% of the issued capital reserved for the general public), resulting in a total of 12,165,680 units now available for the general public.

     

  • SEBON Adds Six New IPO Proposals to Pipeline, Featuring Hydropower, Other, and Manufacturing Sectors

    SEBON Adds Six New IPO Proposals to Pipeline, Featuring Hydropower, Other, and Manufacturing Sectors


    The Securities Board of Nepal (SEBON) is considering six new IPO proposals from various companies. Among them, Apex Hospitality Limited has applied to issue 2,400,000 shares, aiming to generate Rs. 24 crores for their company. This application was submitted on Ashwin 12, 2080, and Himalayan Capital Limited will serve as the issue manager for the public offering.

    Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has granted an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)] to Apex Hospitality Limited. This rating signifies a relatively high risk of default in meeting financial obligations on time.

     

  • Mathillo Mailun Khola Jalvidhyut IPO Receives Rs. 1.39 Arba from 12.51 Lakh Applicants; Oversubscribed 10.83 Times

    Mathillo Mailun Khola Jalvidhyut IPO Receives Rs. 1.39 Arba from 12.51 Lakh Applicants; Oversubscribed 10.83 Times


     

    Mathillo Mailun Khola Jalvidhyut Limited conducted its Initial Public Offering (IPO), releasing 12,84,200 unit shares to the public from the 18th to the 22nd of Ashwin, 2080.

    Out of a total of 15,09,200 units, 1,50,000 units were exclusively available to Nepalese citizens working abroad, and 75,000 units were allocated to mutual funds. The remaining 12,84,200 units were open for the general public.

    Sanima Capital served as the appointed issue manager for this IPO, and applicants could apply for a minimum of 10 units and a maximum of 10,000 units.

     

  • IPO Shares of Mandu Hydropower and Hathway Investment Nepal Listed in NEPSE: Opening Ranges Revealed

    IPO Shares of Mandu Hydropower and Hathway Investment Nepal Listed in NEPSE: Opening Ranges Revealed


    The initial trading range for the first transaction of IPO shares is between Rs. 124.42 and Rs. 373.26. If the company enters into an agreement with NEPSE, these IPO shares will be available for trading in the secondary market on the following day.

    A total of 2,34,00,000 unit shares were issued, with 12,05,320 units being offered to the general public at a price of Rs. 206 per share. This price includes a face value of Rs. 100 and a premium price of Rs. 106 per share. This offering took place from the 10th to the 13th of Bhadra, 2080.

    Additionally, Hathway Investment Nepal Limited (HATHY) has listed 2,34,00,000 unit IPO shares on NEPSE, encompassing shares held by promoters and those allocated to the general public.