Tag: Approval

  • Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects

    Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects


    The final approval from the Electricity Regulatory Commission has been granted to Barahi Hydropower Public Limited (BHPL) for the issuance of right shares in a 1:1 ratio for its shareholders. The hydropower company had proposed to issue 100% right shares based on its paid-up capital of Rs. 25 Crores. Following the adjustment of the proposed right shares, totaling 2,500,000 units, the company’s paid-up capital is set to double to Rs. 50 Crores.

    The primary purpose behind the issuance of these right shares is to fund the construction of two hydropower projects owned by BHPL – the Simkosh Khola Hydroelectric Project (3.45 MW) and Lower Theule Khola Hydropower Project (0.75 MW).

    It’s important to note that the company will proceed with the issuance of right shares to its shareholders only upon receiving approval from the Securities Board of Nepal (SEBON). As of the latest update, BHPL closed at Rs. 479.00.

  • Banks planning to reduce deposit interest further, no approval required for foreign investment in stocks

    Banks planning to reduce deposit interest further, no approval required for foreign investment in stocks


    is this a good news?

    Sources: [https://merolagani.com/NewsDetail.aspx?newsID=99417](https://merolagani.com/NewsDetail.aspx?newsID=99417)

    [https://merolagani.com/NewsDetail.aspx?newsID=99415](https://merolagani.com/NewsDetail.aspx?newsID=99415)

    View on r/NepalStock by captainright1

  • United Modi Hydropower Limited (UMHL) Proposes 100% Right Share Issuance for Project Investment

    United Modi Hydropower Limited (UMHL) Proposes 100% Right Share Issuance for Project Investment


    United Modi Hydropower Limited (UMHL) has announced its intention to issue right shares in the ratio of 1:1 or 100% right shares, as per the decision made during the recent Board of Directors meeting on Mangsir 13. The proposal aims to release 100% right shares on the existing paid-up capital of Rs. 1.23 Arba, with the objective of securing funds for investment in its ongoing hydropower projects. If approved, this issuance will lead to an additional 12,305,000 units of right shares, causing the company’s paid-up capital to surge to Rs. 2.46 Arba. However, the issuance is contingent upon obtaining approvals from regulatory bodies, specifically the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON), followed by endorsement at the upcoming Annual General Meeting (AGM) of the company. UMHL’s closing stock price stood at Rs. 184 in the latest trading session.

  • “Liberty Energy (LEC) Gets ERC Approval for 50% Right Shares”

    “Liberty Energy (LEC) Gets ERC Approval for 50% Right Shares”


     

    The Electricity Regulatory Commission has given final approval to Liberty Energy Company Limited (LEC) to issue 1 right share for every 2 existing shares held by its shareholders. In its 11th, 12th, and 13th AGM held on 25th Baisakh, the company agreed to provide its shareholders with 50% right shares. The total value of these shares is Rs. 75 Crores, and this issuance will increase the company’s paid-up capital from Rs. 1.50 Arba to Rs. 2.25 Arba.

     

  • “PRIN Trading Resumes Post NEPSE Approval”

    “PRIN Trading Resumes Post NEPSE Approval”


    Today, the Nepal Stock Exchange approved the resumption of securities trading for Prabhu Insurance Company Limited (PRIN). The decision came after a delay in providing NEPSE with information about PRIN’s board of directors meeting, where they decided to issue right shares in the ratio 1:0.65 on Ashad 27, 2080.

     

  • “Balephi Hydropower to Issue 100% Right Shares After Amending Initial Proposal, Pending Regulatory Approval”

    “Balephi Hydropower to Issue 100% Right Shares After Amending Initial Proposal, Pending Regulatory Approval”


    Balephi Hydropower Limited (BHL) has recently made changes to its right share ratio, increasing it from 50% to 100%. In a board of directors meeting held on Shrawan 02, 2080, it was decided that the company will issue 100% right shares based on the paid-up capital of Rs. 1.82 Arba. As a result of this issuance, the company’s paid-up capital will rise to Rs. 3.64 Arba.

    Previously, during a board meeting on Falgun 12, BHL had planned to propose the issuance of rights shares in the ratio of 1:0.50. However, it was later reconsidered due to the realization that the amount generated from 50% right shares would not be sufficient to repay the loans obtained from banks. Consequently, the new proposal suggests the issuance of right shares in the ratio of 1:1.

    It is important to note that the right shares will only be issued after receiving approval from the Securities Board of Nepal (SEBON) and obtaining endorsement during the company’s upcoming Annual General Meeting (AGM). These regulatory steps are essential to ensure compliance with the necessary legal procedures and protect the interests of shareholders and investors.

  • Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance

    Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance


    Arun Valley Hydropower Development Company Limited (AHPC) has received the final approval from the Electricity Regulatory Commission to issue right shares to its shareholders at a ratio of 1:1. This decision was made during the Special General Meeting (SGM) held on Ashad 07, where 100% rights shares were endorsed for distribution among the shareholders. The proposal for issuing these right shares was initially put forward during the Board of Directors meeting held on Baisakh 06.

    The approved plan entails issuing a total of 18,679,626 right shares with a par value of Rs. 100 each, amounting to a total value of Rs. 1.86 Arba. Out of this amount, AHPC intends to invest 50% of the issued right shares, equivalent to 9,339,813 unit right shares valued at Rs. 93.39 crore, in the Likhu Khola Hydropower Project (30 MW) developed by PK Hydropower Pvt. Ltd. The remaining 9,339,813 unit shares, also valued at Rs. 93.39 crore, will be utilized to repay the loan obtained by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.

    It should be noted that the issuance of these right shares is subject to the approval of the Securities Board of Nepal (SEBON). AHPC will proceed with issuing the right shares to its shareholders once the necessary approval is obtained. As of the time of writing, AHPC’s Last Traded Price (LTP) stands at Rs. 263.90.

  • NRB Approves Merger of National and Summit Microfinance

    NRB Approves Merger of National and Summit Microfinance


    The Nepal Rastra Bank (NRB) has given its final approval for the merger between National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) and Summit Laghubitta Bittiya Sanstha Limited (SMFDB). National Microfinance (NMFBS) issued a press release announcing the approval. The merger proposal by National Microfinance was presented at a Special General Meeting (SGM) and was later finalized through a merger agreement signed by both companies’ boards of directors.

     

  • “SEBON Approves 100% Right Shares Issuance for Upper Tamakoshi Hydropower Limited”

    “SEBON Approves 100% Right Shares Issuance for Upper Tamakoshi Hydropower Limited”


    The Securities Board of Nepal (SEBON) has given its approval for Upper Tamakoshi Hydropower Limited (UPPER) to issue 100% right shares. The company plans to issue shares worth NPR 10.59 Arba, equivalent to 105,900,000 units of right shares on a 1:1 basis to its existing shareholders. The application for this proposal was submitted to SEBON on Falgun 18, 2079.

    Once the proposed right shares are adjusted, the paid-up capital of Upper Tamakoshi Hydropower Limited will increase to NPR 21.18 Arba. Sunrise Capital has been appointed as the issue manager for this process.

    Upper Tamakoshi Hydropower Limited operates the 456-MW Upper Tamakoshi Hydroelectric Project in the Dolkha district of Bagmati Province, Nepal. As of mid-July 2022, the company’s paid-up capital stands at NPR 10,590 million, with 51% held by promoters and 49% held by the public. The project, which is the largest operational project in Nepal, is of the peaking run-of-the-river (PROR) type, with a peaking capacity of four hours, developed at a 32% probability of exceedance (Q32).

  • NEPSE Board Meeting to Discuss Approval for Seven Brokers and NEPSE-30 Index Operation Tomorrow.

    NEPSE Board Meeting to Discuss Approval for Seven Brokers and NEPSE-30 Index Operation Tomorrow.


     

    The Board of Directors of Nepal Stock Exchange (NEPSE) has planned a meeting for Wednesday morning. The meeting will cover important topics such as granting final approval to seven broker companies and deciding on the operational details of the NEPSE-30 index. Murahari Parajuli, the Company Secretary and Information Officer at NEPSE, confirmed these agendas during a phone interview with Sharesansar.

     

  • SEBON Grants IPO Approval to Five Companies, Including Two Life Insurance, Two Hydropower, and One Investment Sector Firm.

    SEBON Grants IPO Approval to Five Companies, Including Two Life Insurance, Two Hydropower, and One Investment Sector Firm.


     

    SEBON Approves IPO Issue of 5 Companies; Hathway Investment Nepal to Raise Rs. 14.62 Crores

    The Securities Exchange Board of Nepal (SEBON) has given its approval for the initial public offering (IPO) of five different companies. One of them, Hathway Investment Nepal Limited, plans to issue 29.25 lakh shares at a par value of Rs. 50 per share. This will raise approximately Rs. 14.62 crores for the company, which accounts for 12.5% of its total issued capital. Currently, Hathway Investment Nepal has a paid-up capital of Rs. 1.02 Arba, and after the IPO allotment, it will increase to Rs. 1.17 Arba. Global IME Capital Limited has been appointed as the issue manager for this IPO. The proposal received SEBON’s approval on Ashad 17.

  • “Ngadi Group Power Limited Proposes 100% Rights Shares for Shareholders to Address Funding Requirements”

    “Ngadi Group Power Limited Proposes 100% Rights Shares for Shareholders to Address Funding Requirements”


    Ngadi Group Power Limited (NGPL) has proposed to offer 100% rights shares to its existing shareholders. The proposal was made during a recent Board of Directors meeting.

    NGPL’s Siurikhola Small Hydropower Project, located in Lamjung District, Gandaki Province, with a capacity of 4.95 MW, has been performing well due to regular maintenance. However, additional funds are needed to maintain existing projects, settle payments, invest in new projects, attract investments, create jobs, and increase national capital.

    To address this funding requirement, NGPL aims to issue rights shares in a 1:1 ratio to its current shareholders. This will increase the company’s paid-up capital from Rs. 1.85 Arba to Rs. 3.7 Arba.

    Approval from the Electricity Regulatory Commission and subsequent endorsement at the Annual General Meeting (AGM) are necessary for the issuance of the rights shares.

    NGPL had previously issued 150% rights shares to its shareholders.

    As of July 02, NGPL shares were trading at Rs. 241.