Tag: Allotment

  • IPO Allotment: Chirkhwa Hydropower Allocates Shares to Project-Affected Locals on 8th Ashwin

    IPO Allotment: Chirkhwa Hydropower Allocates Shares to Project-Affected Locals on 8th Ashwin


    On Monday, Ashwin 8, the IPO of Chirkhwa Hydropower was allocated to residents affected by the project in Bhojpur District. The distribution of the company’s IPO took place at the office of RBB Merchant Banking Limited, which is overseeing the IPO issuance.

    Between Shrawan 28th and Bhadra 25th, the company had offered shares to project-affected locals in Bhojpur District, following approval from SEBON (Securities Board of Nepal). The company had issued a total of 400,000 shares, each with a face value of Rs 100, exclusively for these local residents. As per the notice, all 400,000 units were allotted to eligible applicants.

     

  • Mathillo Mailung Khola Jalbidhyut Allots IPO Shares to Project-Affected Residents in Rasuwa and Nuwakot Districts

    Mathillo Mailung Khola Jalbidhyut Allots IPO Shares to Project-Affected Residents in Rasuwa and Nuwakot Districts


    Mathillo Mailung Khola Jalbidhyut Limited has successfully allocated its Initial Public Offering (IPO) shares to local residents directly impacted by the project in Rasuwa and Nuwakot Districts. The allocation process concluded on the 1st of Ashwin, 2080, following an offering of 10,00,000 units of IPO shares, which represent 10% of the company’s total issued capital amounting to Rs. 1 Arba. This offering was exclusively available to residents in the Rasuwa and Nuwakot Districts and was open for applications from the 4th of Shrawan to the 17th of Bhadra. Local residents had the opportunity to apply for a minimum of 10 shares and a maximum of 10,000 shares.

    According to a recent notice issued by the company, approximately 990,800 units of IPO shares, or 99.08% of the total offering, have been successfully allotted to eligible applicants from the project-affected areas. Consequently, the remaining 9,200 units will soon be made available to the general public. In addition to this, the company plans to issue an additional 15,00,000 units, representing 15% of the total issued capital.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BB-‘ to Mathillo Mailun Khola Jalvidhyut Limited. This rating indicates a moderate risk of default in terms of the company’s ability to meet its financial obligations in Nepal.

    Mathillo Mailun Khola Jalvidhyut Limited is a publicly traded company established on August 14, 2012. The company’s establishment was facilitated by institutional investors, primarily associated with the Sanima Hydro Group, as well as other financial institutions, including banks and insurance companies. Its primary objective is to develop a 14.3 MW run-of-river project known as the Mathillo Mailun Khola Jalvidhyut Project, located in the Rasuwa district of Nepal, under the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Himalayan Capital Allots ‘Himalayan 80-20’ Mutual Fund Scheme

    Himalayan Capital Allots ‘Himalayan 80-20’ Mutual Fund Scheme


    Himalayan Capital Limited, the issue manager for the “Himalayan 80-20” MF scheme’s IPO, has announced the completion of allotment for the 85 million units made available to the general public. Initially, Himalayan Capital had offered 10 million units valued at Rs 1 billion, priced at Rs 10 per unit. Out of this total, 15 percent (15 million units) were reserved for the promoter, Himalayan Bank, while the remaining 85 million units were open to the general public.

    The “Himalayan 80-20” plan allocates 80 percent of the capital to long-term investments with compounding returns in the capital and financial market. The remaining 20 percent is actively managed based on market dynamics to maximize returns. This investment strategy is supervised by experienced fund managers at Himalayan Capital Limited.

     

  • Chirkhwa Hydropower IPO Allotment for Nepali Migrants

    Chirkhwa Hydropower IPO Allotment for Nepali Migrants


     

    On Tuesday, which was Bhadra 26 in the Nepali calendar, the Chirkhwa Hydropower IPO was allocated to Nepali migrant workers living abroad. The IPO distribution took place at the office of RBB Merchant Banking Limited, which serves as the company’s IPO issue manager.

     

  • “Mandu Hydropower Limited IPO Allotment: 1,20,532 Applicants Receive 10 Units Each Through Lottery”

    “Mandu Hydropower Limited IPO Allotment: 1,20,532 Applicants Receive 10 Units Each Through Lottery”


    Mandu Hydropower Limited recently offered 12,05,320 IPO shares to the general public at a price of Rs. 206 per share, comprising a face value of Rs. 100 and a premium price of Rs. 106. This offering took place from the 10th to the 13th of Bhadra, 2080.

    Initially, the company had allotted 272,730 units of shares to project-affected locals in Lalitpur and Makawanpur Districts. However, only 193,700 units were allocated to eligible applicants, leaving 79,030 units unsubscribed. These unsubscribed shares from the project-affected locals were then combined with 13,63,640 units (10% of the issued capital initially reserved for the general public), resulting in a total of 14,42,670 units available for the general public.

    Out of this total, 136,364 units have already been issued and allocated to Nepalese citizens working abroad, while 72,133 units are designated for mutual funds, and 28,853 units are set aside for the company’s employees. The remaining 12,05,320 units are intended for the general public.

     

  • “Sun Nepal Life Insurance IPO Allotment Concludes: 7,68,000 Applicants Celebrate; 6,92,061 Applicants Return Empty-Handed”

    “Sun Nepal Life Insurance IPO Allotment Concludes: 7,68,000 Applicants Celebrate; 6,92,061 Applicants Return Empty-Handed”


     

    The IPO allotment process of Sun Nepal Life Insurance Company Limited has been completed today at the offices of the issue manager, Nepal SBI Merchant Banking Limited, in Kathmandu.

    Sun Nepal Life Insurance Company Limited had offered 76,80,000 unit IPO shares at a price of Rs. 239 per share, which consists of a face value of Rs. 100 and a premium price of Rs. 139 per share. The offering was open to the general public from Sharwan 32 to Bhadra 4, 2080.

    The total issued capital of the life insurance company is Rs. 3.2 Arba, with 30% or 96,00,000 unit shares allocated for the public, including Nepalese citizens working abroad and the general public. Out of this total offering, 10%, equivalent to 960,000 unit shares, was made available to Nepalese citizens working abroad from the 1st to the 15th of Shrawan. The remaining 86,40,000 units were designated for the general public, which also includes company employees and mutual funds, during the specified dates mentioned above.

  • “Lucky 2,27,662 Applicants Secure 10 Units Each in Manakamana Engineering Hydropower IPO Allotment”

    “Lucky 2,27,662 Applicants Secure 10 Units Each in Manakamana Engineering Hydropower IPO Allotment”


     

    The allocation of IPO shares for Manakamana Engineering Hydropower Limited has been completed today at the B.O.K Capital Markets Limited premises in Kathmandu. The hydropower company offered 2,276,620 shares at a face value of Rs 100 each to the public for subscription from the 28th to the 31st of Shrawan, 2080.

    Initially, the company had issued 800,000 shares worth Rs. 8 crores to people affected by the project in Dolakha District. However, only 183,380 shares, which accounts for 22.92%, were allotted to eligible applicants. As a result, the remaining 616,620 unsold shares from the project-affected locals’ quota have been combined with 2,000,000 shares (25% of the total issued capital, reserved for the general public), resulting in a total of 2,616,620 shares available for the general public.

     

  • “Reliable Nepal Life Insurance IPO Allotment Concludes, Leaves Nearly 400,000 Applicants Empty-Handed”

    “Reliable Nepal Life Insurance IPO Allotment Concludes, Leaves Nearly 400,000 Applicants Empty-Handed”


     

    The IPO allotment for Reliable Nepal Life Insurance Limited (RENLICL) has wrapped up today at the Civil Capital Market premises in Sundhara, Kathmandu. The company had offered 9,600,000 IPO shares at a face value of Rs 100 per share, along with a premium of Rs 157, making the total cost per share Rs 257. This opportunity was made available to the general public from the 18th to the 22nd of Shrawan, 2080.

     

  • “Upper Lohore Hydropower IPO Allotment Completed: Details and Share Availability”

    “Upper Lohore Hydropower IPO Allotment Completed: Details and Share Availability”


     

    The allotment for Upper Lohore Hydropower Company Limited’s Initial Public Offering (IPO) was completed today at Kaji Kitchen, Battisputali, Kathmandu. NICA Asia Capital acted as the issue manager for this IPO. The company had initially issued 19,53,279 IPO shares with a face value of Rs 100 each to the public from 18th to 22nd Shrawan, 2080.

    Earlier, the company had also issued 509,804 shares worth Rs. 5.09 crores to locals affected by the project in Dailekh District. However, only 206,760 units (40.55%) of these shares were allocated to eligible applicants. As a result, the remaining 303,044 units of unsubscribed shares from the project-affected locals were combined with 19,88,236 units (39% of the total issued capital) set aside for the general public. This brought the total number of units available to the general public to 22,91,280.

  • “NIMB Ace Capital Concludes Citizen Life Insurance IPO Allotment; Foreign Applicants Receive 10 to 50 Unit Shares”

    “NIMB Ace Capital Concludes Citizen Life Insurance IPO Allotment; Foreign Applicants Receive 10 to 50 Unit Shares”


     

    The life insurance company recently offered its regular shares to the public at a premium price of Rs 244 per share, starting from Asar 31 to Shrawan 14, 2080. According to a press release, the company distributed shares based on different categories of applicants. Around 7,885 applicants received shares based on their requested quantity within the range of 10 to 40 units. Additionally, 19,743 applicants who had applied for 50 to 2000 units were allotted 40-unit shares each. In a stroke of luck, 18,029 applicants from the latter group were selected through a lucky draw to receive an extra 10-unit shares.

  • IMandu Hydropower Allots IPO Shares to Overseas Nepalese on 21st Shrawan

    IMandu Hydropower Allots IPO Shares to Overseas Nepalese on 21st Shrawan


     

    Mandu Hydropower Limited has assigned shares from its Initial Public Offering (IPO) to Nepalese individuals employed overseas. The distribution process ended on the 21st of Shrawan, 2080. This allotment event occurred at the office of Prabhu Capital Limited, the hydropower company’s designated issue manager, located in Kamaladi.

     

  • “Significant Decline in Real Estate Transactions in Nepal during FY 2079/80, Delay in Opening Land Allotment Impacts Economy”

    “Significant Decline in Real Estate Transactions in Nepal during FY 2079/80, Delay in Opening Land Allotment Impacts Economy”


    In the last financial year 2079/80, there was a significant decrease in real estate transactions, according to data from the Department of Land Management and Archive. The purchase and sale of land dropped by approximately 38%, resulting in a decrease in the number of processed documents for real estate transactions. In the financial year 2078/79, around 745,000 documents were processed, but in the last FY 2079-80, this number was limited to around 463,000.

    The decline in land transactions was evident in Ashad, the last month of the financial year 2079-80, with only 44,485 documents being processed compared to 55,069 documents in Jestha, which recorded the highest transactions for the financial year. The Department of Land Management and Archive reported that 42,461 land deeds were processed in Baisakh, and 49,150 in Chaitra. The numbers gradually decreased until Asoj when it dropped to about 26,000, but then it began to increase slowly again.

    The slowdown in real estate transactions had a significant impact on the government’s revenue collection. The real estate revenue decreased by about 29%, totaling only Rs. 41 Arba 15 crore 76 lakhs in the last financial year, compared to Rs. 57 Arba 66 crores 99 lakhs the previous year.

    The plotting of land also decreased considerably, with a 60% drop compared to the financial year 2078/79. In FY 2079-80, 285,000 plots were divided, whereas in FY 2078/79, 694,213 plots were divided.

    To address the slowdown in land transactions and its impact on the overall economy and government finances, the government had planned to open the allocation of land. However, the Land Management and Archive Department has not yet issued any instructions or circulars to do so, and the situation remains unchanged.

    The legal knot to open the land auction needs to be untied, and the First Amendment Regulations-2079 require amendment to open the land registry. The Ministry of Land Management, Cooperatives, and Poverty Alleviation is currently preparing for this.

    In recent days, the real estate business has shown signs of improvement due to the increase in investable capital in banks. As banks started accumulating investments, investments in real estate have started to increase again.

    Despite the announcement to facilitate the sale of real estate and the decision of the Council of Ministers to open the section, the implementation has been delayed. The Nepal Land & Housing Developers’ Association is urging the government to implement the decision and release Kittakat, claiming that the overall economic activity of the country is slowing down because the real estate sector is not functioning.