Tag: App

  • Jeevan Bikas Laghubitta Bittiya Sanstha Limited Reports a 46.1% Decline in Net Profit in Q3 FY 2079/2080

    Jeevan Bikas Laghubitta Bittiya Sanstha Limited Reports a 46.1% Decline in Net Profit in Q3 FY 2079/2080


    Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB), a microfinance company in Nepal, recently released its third-quarter report for the fiscal year 2079/2080. The report indicated a decline in net profit by 46.1% to Rs. 32.92 crore compared to the same period in the previous year, which was Rs. 61.09 crore. The company attributed the decline in net profit to the COVID-19 pandemic, which affected its business operations and borrowers’ repayment capabilities.

    Despite the decline in net profit, JBLB showed some positive trends in other areas. The company’s borrowings decreased by 8.02% to Rs. 8.70 Arba, while deposits increased by 4.85% to Rs. 10 Arba. This increase in deposits could be due to increased trust and confidence from depositors in the company’s financial stability and sound management practices.

    Furthermore, JBLB’s loans and advances decreased by 41.19% to Rs. 22.45 Arba. This reduction could be due to the company’s cautious approach in lending and disbursement amid the pandemic, which has created financial uncertainties for many of its borrowers. However, this decline in loans and advances could also impact the company’s future growth and profitability, as it relies heavily on its loan portfolio.

    The net interest income (core revenue) decreased by 5.54% to Rs. 1.19 Arba compared to the corresponding quarter of the previous year. The company may have experienced a reduction in interest income due to the decrease in loans and advances, as well as the decrease in the lending rate amid the pandemic.

    Despite the decline in net profit, JBLB’s paid-up capital increased to Rs. 1.18 Arba, and its reserve increased by 14.96% to Rs. 1.09 Arba in this quarter. This increase in paid-up capital and reserve indicates the company’s ability to attract investments and retain earnings, which could help boost its future growth and stability.

    JBLB’s annualized earnings per share (EPS) stood at Rs. 37.14, while its net worth per share is Rs. 261.45. The company is currently trading at a P/E multiple of 40.53 times, indicating that investors may have confidence in the company’s long-term prospects, despite the short-term challenges brought on by the pandemic.

    In conclusion, Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) reported a decline in net profit for the third quarter of FY 2079/2080, largely due to the impact of the COVID-19 pandemic. However, the company showed some positive trends, such as an increase in deposits and paid-up capital, which could help support its future growth and profitability.

  • Last Day to be Eligible for Rights Offering of Himal Dolakha Hydropower Company Limited

    Last Day to be Eligible for Rights Offering of Himal Dolakha Hydropower Company Limited


    Himal Dolakha Hydropower Company Limited (HDHPC) is currently offering 12,000,000 unit right shares at a par value of Rs. 100. The rights issue has been approved by the Securities Exchange Board of Nepal (SEBON) and is being managed by Laxmi Capital Markets Limited.

    The current paid-up capital of the company is Rs. 1.60 Arba, and after the issue of the right share in the ratio of 1:0.75, the paid-up capital of the company will be increased to Rs. 2.8 Arba. The book closure date for the rights issue is Baisakh 27, and shareholders who have maintained shares until the last trading day before the book closure are eligible to apply for the right shares.

    Today is the last day for interested shareholders to become eligible for the rights offering. If you miss the deadline, you will not be able to apply for the right shares. As of writing, HDHPC’s last traded price (LTP) is Rs. 187.90.

    If you’re interested in investing in HDHPC, you can apply for the right shares through your stockbroker or by visiting the website of Laxmi Capital Markets Limited. It’s important to carefully consider the terms of the rights offering and do your research on the company before making an investment decision.

  • Prabhu Life Insurance proposes dividend for the first time

    Prabhu Life Insurance proposes dividend for the first time


    Prabhu Life Insurance Limited (PLI) has proposed a dividend of 10.526% for the fiscal year 2077/78. This is the first dividend the company has proposed since being listed on the Nepal Stock Exchange (NEPSE).

    The company’s board of directors, at its 140th meeting held on Baisakh 25, has decided to distribute a dividend consisting of 10% bonus shares and 0.526% cash dividend (including tax). PLI has a paid-up capital of Rs. 2 Arba, making the bonus shares worth Rs. 20 crores and the cash dividend worth Rs. 1.05 crores.

    However, it’s important to note that this dividend is subject to approval by the Nepal Insurance Authority and endorsement at the upcoming AGM.

    As of writing, the company’s closing price on the last trading day stands at Rs. 390.

     

  • Liberty Energy Company approves right shares and elects new board members during 13th AGM

    Liberty Energy Company approves right shares and elects new board members during 13th AGM


    Liberty Energy Company held its 13th Annual General Meeting on April 8th, 2023, with Mr. Kush Kumar Joshi as the chair. During the meeting, all financial reports from the previous fiscal year were approved. The meeting also endorsed a proposal to offer 50% of right shares, equivalent to Rs 75 crore, to existing shareholders. Additionally, the election of new board members was approved, including Dr. Aatma Ram Ghimire, Mr. Shyam Bahadur Khadka, Mr. Rajendra Wasti, Mr. Puruswotam Ghimire, and Ms. Kabita Pokharel from the promoter group. Mr. Lochan Koirala from the public group and Ms. Anugya Sapkota were elected as independent board directors.

    Liberty Energy Company currently operates three projects, which are Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi, as stated in the media statement.

    Liberty Energy Company held its 13th Annual General Meeting, where financial reports from the previous fiscal year were approved. The company also approved the proposal to offer 50% of right shares worth Rs 75 crore to existing shareholders. Moreover, the meeting elected new board members, including five members from the promoter group and two independent board directors.

    Lastly, the media statement indicated that Liberty Energy Company is operating three projects: Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi.

  • SEBON Approves Further Public Offering (FPO) of Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB)

    SEBON Approves Further Public Offering (FPO) of Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB)


    The Securities Board of Nepal (SEBON) has given approval for the Further Public Offering (FPO) of Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) on Baisakh 21, 2080. UNLB will issue 379,425 units of FPO shares, which the general public can apply for at a par value of Rs. 100 per share, raising Rs. 37,942,500 for the company. After the issuance of these FPO shares, the paid-up capital of the company will increase from Rs. 110,632,500 to Rs. 14.85 crores.

    Muktinath Capital Limited has been appointed as the issue manager of the FPO, and the application was submitted to SEBON on Chaitra 17. Previously, Unique Nepal Laghubitta planned to issue an IPO for 2.70 lakh shares. However, after merging with Ghodighoda Laghubitta and commencing their joint operation on 30th Poush, 2078 under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited, the company will now issue an FPO instead to adjust its shareholding ratio. Ghodighoda Laghubitta was a publicly listed company, and the merged company’s promoter: public share structure is currently 94:6 ratios. After the FPO, this ratio will change to 70:30.

  • IPO of Three Star Hydropower Limited closes for Nepali citizens abroad and extends deadline for project-affected locals

    IPO of Three Star Hydropower Limited closes for Nepali citizens abroad and extends deadline for project-affected locals


    Three Star Hydropower Limited is closing the initial public offering (IPO) for Nepalese citizens working abroad today, i.e., 25th Baisakh, 2080, and has extended the deadline for project-affected locals to apply for the IPO until 9th Jestha. The IPO issue was opened on 11th Baisakh, 2080. The company’s issued capital is Rs. 49.25 Crores, of which 10% has been allocated to project-affected locals of Khotang District, while 15% will be issued later for the general public. Of this public issue, 10% has been allocated for Nepalese citizens working abroad, and the issue for this segment will close today.

    The minimum application quantity for project-affected locals is ten units, while the maximum quantity is 492,500 units. For Nepalese citizens working abroad, the minimum application quantity is ten units, and the maximum quantity is 73,875 units. The IPO issue manager is Himalayan Capital Limited. After this IPO, the promoter-public share ratio will be 75:25.

    As per CDSC, Nepalese citizens working abroad have submitted 20,646 applications for a total of 512,280 units. So far, the issue has been oversubscribed by 6.93 times.

    Three Star Hydropower Limited is a public company located in Province 1, Haleshi Tuwachung Municipality, Khotang. The company was established in 2072 BS and has a total capacity of 7.151 MW. The founders of the company are Kumar Kharel, Mohan Karki, and Madhav Mainali, who named the company after themselves and then named it Three Star Hydro. Later, Uddhav Raj Shivakotee ‘Kangal’, Pradeep K Agrawal, Ananda P Manandhar, Zen Lama, and Ratna Bdr Newar joined the founders. ICRA Nepal has assigned an issuer rating of Three Star Hydropower Limited as [ICRANP-IR] B-, indicating a high risk of default regarding the timely servicing of financial obligations.

  • AHPC Distributes 8% Bonus Shares and Dividend Worth Rs. 21.11 Crores, Encourages Shareholders to Dematerialize Shares

    AHPC Distributes 8% Bonus Shares and Dividend Worth Rs. 21.11 Crores, Encourages Shareholders to Dematerialize Shares


    Arun Valley Hydropower Development Company Limited (AHPC) has recently given out 8% bonus shares to its shareholders. The bonus shares were distributed directly to the DEMAT accounts of the shareholders. AHPC has also encouraged its shareholders to dematerialize their shares. Dematerialization refers to the process of converting physical shares into electronic format.

    During the 25th Annual General Meeting (AGM) held on 27th Magh for the fiscal year 2078/79, AHPC approved an 8.421% dividend worth Rs. 21.11 Crores. The board of directors of AHPC, in a meeting held on Mangsir 16, decided to distribute the dividend to its shareholders based on the paid-up capital of Rs. 1.72 Arba. The dividend comprised of 8% bonus shares worth Rs. 13,83,67,600 and 0.421% cash dividend (for tax purposes) worth Rs. 72,81,595. It is important to note that the bonus shares have already been listed in the Nepal Stock Exchange (NEPSE).

    In order to receive the bonus shares and the cash dividend, shareholders of AHPC will need to dematerialize their shares at Muktinath Capital Limited, which is located in Naxal, Kathmandu. This is because the bonus shares have already been issued in electronic form, so shareholders will need to have DEMAT accounts to receive them. The company has urged its shareholders to dematerialize their shares to ensure a smooth and efficient transfer of shares and dividends.

  • Nepal Chamber Expo 2023 to Feature Over 150 Stalls of National and International Manufacturers

    Nepal Chamber Expo 2023 to Feature Over 150 Stalls of National and International Manufacturers


    The Nepal Chamber of Commerce has announced that it will be hosting the Nepal Chamber Expo 2023 from Jestha 4 to 8, 2080 at Bhrikutimandap, Kathmandu. Over 150 stalls featuring a wide range of national and international manufacturers will be present at the event. Exhibits will include items such as automobiles, electrical and electronics, home appliances, fashion wear and accessories, garments and textiles, mobile and gadgets, fast-moving consumer goods, hydro, logistics, handicrafts and handlooms, shoes and leather items, cosmetics, and food and dairy products. These details were disclosed in a media statement.

  • Modi Energy Limited’s IPO oversubscribed by 2.14 times; Issue to close today

    Modi Energy Limited’s IPO oversubscribed by 2.14 times; Issue to close today


    Modi Energy Limited is wrapping up its IPO issuance of 55,59,420 unit shares worth Rs. 100 each to the general public from today i.e. May 7, 2023. The issue was opened on May 1, 2023. However, the IPO issue is already oversubscribed by 2.14 times so far as 1,062,761 applicants have applied for a total of 11,915,310 units.

    The company had issued 29,00,000 unit shares worth Rs. 29 crores to the project-affected locals of Parbat District out of which only 804,390 units or 27.73% were allotted to valid applicants. Thus, the remaining 20,95,610 units of unsubscribed shares of project-affected locals are added to 43,50,000 units reserved for the general public to make a total of 64,45,610 units for the general public.

    Sunrise Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 100,000 units. The IPO shares are for the Hydroelectric Project (HEP) of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project (TMKHP) constructed under the “BOOT” (Build, Own, Operate, and Transfer) model in the Parbat district of Nepal. It came into operation on September 30, 2021.

    The company has been promoted by institutional promoters and individual businessmen with long experience in various sectors for setting up the hydroelectric project. Overall, 75% of shares are of the promoter shareholders in the company. CARE Ratings Nepal Limited (CRNL) has revised the Issuer Rating of Modi Energy Limited to “CARE-NP D (Is)” from “CARENP BB+ (Is)”. Issuers with this rating are considered to be in default or are expected to be in default soon.

    The IPO shares have already attracted significant interest from the public, and it remains to be seen how the company performs in the coming years.

  • Nepal Investment Mega Bank to issue Rs 4 arba worth Debenture with 10% interest rate

    Nepal Investment Mega Bank to issue Rs 4 arba worth Debenture with 10% interest rate


    Nepal Investment Mega Bank has decided to issue debentures worth Rs. 4 arba, and they have chosen Prabhu Capital as the issue manager for this process. The debentures will be offered to the general public as well as institutional investors. The duration of the debenture is for ten years and it will provide a 10% interest rate annually.

    The bank’s Senior Deputy CEO, Mr. Mahesh Sharma Dhakal, and CEO of Prabhu Capital, Mr. Asish Gauchan, signed the Memorandum of Understanding (MoU) at a program held for this purpose. The appointment of Prabhu Capital as the issue manager and the signing of the MoU have been communicated to the public via a media statement.

    By offering debentures to the public, Nepal Investment Mega Bank is essentially offering a fixed interest rate investment option to the investors for the next ten years. The interest rate of 10% is expected to provide an attractive return to the investors, while also helping the bank raise funds for its operations and future investments.

    Prabhu Capital, as the issue manager, will be responsible for overseeing the entire debenture issuance process, including the marketing and distribution of the debentures to potential investors. As a merchant bank, Prabhu Capital has experience in managing and underwriting various types of securities, and its involvement is expected to ensure a smooth and successful debenture issuance process.

    Overall, the appointment of Prabhu Capital as the issue manager for Nepal Investment Mega Bank’s debenture issuance is a positive development for both the bank and potential investors. It provides investors with an attractive investment option, while also enabling the bank to raise funds for its operations and growth.

  • IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad

    IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad


    Upper Syange Hydropower Limited is offering shares to project-affected locals of the Lamjung District and Nepalese citizens working abroad. The IPO will be open from 1st Jestha to 16th Jestha, 2080, and if the issue is not subscribed by the early closing date for locals of Lamjung District, it can be extended till the 30th Jestha. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad. The company’s issued capital is Rs. 22 Crores, and 10% i.e. 2,20,000 unit shares worth Rs. 2.2 crores have been allocated to project-affected locals of Lamjung District.

    29.55% of the company’s issued capital i.e. 650,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 65,000 units shares have been allocated for Nepalese citizens working abroad. The minimum application quantity for the project-affected locals is 10 units, while the maximum quantity is 100,000 units. Meanwhile, for Nepalese citizens working abroad, the minimum application quantity is 10 units, while the maximum quantity is 50,000 units.

    Siddhartha Capital Limited is the issue manager, and the promoter-public share ratio will be 60.45: 39.55 after this IPO. The issuer rating of Upper Syange Hydropower Limited has been reaffirmed as ‘CARE-NP BB (Is)’ by CARE Ratings Nepal Limited (CRNL), indicating a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

    Upper Syange Hydropower is a Public Limited company that is setting up a 2.4 MW Run-of-River (RoR), Upper Syange Hydropower Project (USHP) in BOOT (Build, own, Operate, and Transfer) mechanism. It was incorporated on January 26, 2009, as Upper Syange Hydropower Private Limited and converted to Public limited on March 30, 2017. The project is located in the Lamjung district of Nepal and is promoted by both individual and institutional promoters from different backgrounds.

  • IGI and PICL Complete Merger, Forming IGI Prudential Insurance Limited with Total Paid-Up Capital of Rs. 3.02 Arba

    IGI and PICL Complete Merger, Forming IGI Prudential Insurance Limited with Total Paid-Up Capital of Rs. 3.02 Arba


    The merger between IME General Insurance Limited (IGI) and Prudential Insurance Company Limited (PICL) has been finalized, with the two companies agreeing to a 1:1 swap ratio and forming a new entity called “IGI Prudential Insurance Limited”.

    The merger has received final approval from the Nepal Insurance Authority and the Office of the Registrar of Companies, with joint business operations set to begin on May 10, 2023. The newly merged company will have a total paid-up capital of Rs. 3.02 Arba, combining the current paid-up capital of IGI and PICL. Additionally, IGI and PICL announced dividends of 6.32% and 3.5%, respectively, for Fiscal Year 2078/79.