Makar Jitumaya Suri Hydropower Company Limited’s first public offering (IPO) was completed today at Prabhu Capital Limited in Kathmandu.
Makar Jitumaya Suri Hydropower Company Limited released 1,337,302 units worth Rs 13.37 crores to the general public as an Initial Public Offering (IPO) (Chaitra 19- 22, 2079).
The Nepal Insurance Authority has licensed two more microinsurance businesses.
At its meeting on Tuesday, the authority’s board of directors voted to provide licenses to two more micro insurance companies. The authorities have given licenses to Protective Micro Insurance Ltd Nepal and Crest Micro Life Insurance Ltd.
NEPSE has listed 80,25,000 unit IPO shares of Molung Hydropower Company Limited. This comprises promoter shares as well as shares offered to the general public and project-affected communities.
The initial transaction range is Rs. 60.62 to Rs. 181.86. If the company executes the agreement with NEPSE, the IPO shares will trade in the secondary market the next day.
The NEPSE index closed at 1,963.55 today, up 92.22 points from the previous trading day’s close. This represents a 4.93% increase. Yesterday, the index rose 27.31 points. In the last three days, the index has gained approximately 125.07 points.
Today’s opening price for the index is 1,871.46, which is also the intraday low. In contrast, it reached a high of 1,963.89 before closing at 1,963.55.
Excel Development Bank Limited (EDBL) has announced that it will not pay dividends in fiscal year 2078/79.
The EDBL Board of Directors decided on Chaitra 27, 2079, that no dividends will be paid for fiscal year 2078/79. The financial statements, however, are subject to approval by Nepal Rastra Bank and the company’s upcoming Annual General Meeting.
Hathway Investment Nepal Limited (Hathway), Nepal’s first private-equity investment firm, generated Rs. 1277 million in operating income (OI) in fiscal year 2022. For FY 23, the company has projected an operating income of around Rs. 116 million.
ICRA Ratings has assigned a long-term rating of LBBB to Hathway for long-term loans totaling Rs. 147.7 million and an A3 rating to the short-term fund totaling Rs. 852.3 million.
Vijay Distillery Private Limited (VDPL), which manufactures liquor brands such as Ruslan Vodka, generated Rs. 2085 million in sales revenue in 2022.
The company’s revenue has decreased by Rs. 59.3 crores compared to FY 2021. For fiscal year 20/21, the company generated sales revenue of Rs. 2678 crore (Million). VDPL’s profit margin for FY2022 has been tempered by a drop in sales margin, a high debt level, an increase in interest rates amid reduced banking sector liquidity, and an increase in promotional expenses for recently released products.
Nepal Rastra Bank (NRB), Nepal’s central bank, has released the country’s current macroeconomic and financial situation based on eight months of data ending in mid-March 2022/23.
The NEPSE index closed at 1,871.33 today, up 27.31 points from the previous trading day’s close. This represents a 1.48% increase. Yesterday, the index rose 5.54 points.
Today, the index opened at 1,845.65 and closed at 1,844.41. In contrast, it reached a high of 1,872.11 before closing at 1,871.33.
Today’s gold price has risen by Rs. 500 in the domestic market.
According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is currently trading at Rs. 109,800 per tola. Yesterday, the rate remained unchanged at Rs. 109,300 per tola. Meanwhile, Tejabi gold is currently trading at Rs. 109,300. In contrast, the rate was kept at Rs. 108,800 per tola yesterday.
Makar Jitumaya Suri Hydropower Company Limited’s initial public offering (IPO) will take place this Wednesday, March 29th, 2079. The allotment program will take place at the issue manager’s Kamaladi office, Prabhu Capital Limited.
From the 19th to the 25th Chaitra, the company issued 13,37,302 units of Rs 100 face value shares to the general public as an Initial Public Offering (IPO) worth Rs 13.37 crore. Out of the total 15,20,000 units, or 20% of the issued capital, 10% or 152,000 units have already been issued and allotted to Nepalese citizens working abroad, while 2%, or 32,028 units, were set aside for the company’s employees, and 5%, or 80,070 units, were set aside for the general public.
Himalaya Urja Bikas Company Limited (HURJA) has been granted permission by the Electricity Regulatory Commission (ERC) to issue rights shares to the general public.
The Electricity Regulatory Commission (ERC) has approved the distribution of right shares in a 1:1 ratio. The company proposed issuing right shares in a 1:2 ratio, or 200% of the company’s paid-up capital, at the board of directors meeting on Poush 05. The same agenda was approved at the company’s 22nd AGM, but it was subject to ERC approval. However, the board has now approved the issuance of the right shares in a 1:1 or 100% ratio rather than 1:2 or 200%.