Tag: Approved

  • SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion

    SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion


    “The Securities Board of Nepal (SEBON) has given the green light to the rights offering proposals of two hydropower companies, Ridi Power Company Limited (RIDI) and Arun Valley Hydropower Development Company Limited (AHPC). Ridi Power Company plans to issue 50% right shares, totaling Rs. 77.44 Crores, equivalent to 7,744,506 units, to its existing shareholders. This move aims to fund the investment in the Tallo Balephi hydropower project of Sajha Power Development Company. The company’s current paid-up capital of Rs. 1.54 Arba will increase to Rs. 2.32 Arba after the adjustment of the proposed right shares. Muktinath Capital Limited will serve as the issue manager. As of the latest update, RIDI’s closing share price is Rs. 221.00.

    Similarly, Arun Valley Hydropower Development Company is set to issue 100% right shares, amounting to Rs. 1.86 Arba or 18,679,626 units, to its existing shareholders. This move is intended to finance investments in the Likhu Khola Hydropower Project and repay loans associated with the Kabeli ‘B’-1 Cascade Hydropower Project. After the adjustment, the company’s paid-up capital will rise from Rs. 1.86 Arba to Rs. 3.72 Arba. Muktinath Capital Limited is appointed as the issue manager for AHPC. The current closing share price for AHPC is Rs. 236.60.”

  • Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering

    Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering


    The Securities Board of Nepal (SEBON) has granted approval to Narayani Development Bank Limited’s (NABBC) rights offering proposal on Poush 19, 2080. The bank is set to issue 100% right shares with a total value of Rs. 26.24 Crores, distributing 26,24,676 units (1:1) of right shares among its existing shareholders. Currently holding a paid-up capital of Rs. 26.24 crore, the company’s capital will witness an increment to Rs. 52.4 Crores after the adjustment for the proposed right shares. The responsibility of managing the issue has been entrusted to Global IME Capital Limited, with the application initially submitted to the board on Bhadra 9, 2079. As of the latest update, NABBC’s closing stock price stands at Rs. 396.10.

  • SEBON Approves Singati Hydro Energy’s Rs. 1.45 Arba Rights Offering for Expansion and Debt Clearance

    SEBON Approves Singati Hydro Energy’s Rs. 1.45 Arba Rights Offering for Expansion and Debt Clearance


    The Securities Board of Nepal (SEBON) has granted approval to the rights offering proposal submitted by Singati Hydro Energy Limited (SHEL) on Poush 11, 2080. Under this approved plan, the company is set to issue 100% right shares valued at Rs. 1.45 Arba. This issuance will involve the distribution of 14,500,000 (1:1) units of right shares exclusively to its existing shareholders.

    Presently, Singati Hydro Energy Limited has a paid-up capital of Rs. 1.45 Arba. Following the implementation of the proposed right share issuance, involving 1.45 crore units, the company’s paid-up capital is slated to double, reaching Rs. 2.90 Arba.

    The hydropower firm asserts that the decision to introduce the right shares is aimed at generating funds for investments in other ventures and for settling outstanding debts. Kumari Capital has been appointed as the issue manager for this rights offering. The application for approval was submitted to the board on Ashad 27, 2080.

    As of the latest update, Singati Hydro Energy Limited (SHEL) concluded trading at Rs. 281.90.

  • Sarbottam Cement Makes History with SEBON Approval for First Book-Building IPO in Nepal

    Sarbottam Cement Makes History with SEBON Approval for First Book-Building IPO in Nepal


    The Securities Exchange Board of Nepal (SEBON) has given its approval to the initial public offering (IPO) proposal of Sarbottam Cement Limited on Poush 3, 2080. Notably, this marks the first instance of a company issuing an IPO under the book-building system in Nepal. Sarbottam Cement Limited has been granted permission to release 3,600,000 unit shares to the general public at a bid price of NPR 360.9 each, constituting 7.74% of the company’s issued capital, which amounts to Rs 4.65 arba. The IPO is expected to generate a total of Rs. 1.29 Arba for the company.

    Prior to this approval, the cement company adhered to guidelines by conducting its primary share issuance through the book-building process for Qualified Institutional Investors (QII) from the 6th to the 10th of Mangsir, 2080. The allotment process took place on the 11th Mangsir, during which 41 eligible institutional investors applied for 36,19,190 unit shares against the initially offered 24 lakh units.

    In total, Sarbottam Cement plans to issue 12.9033% of its issued capital, amounting to Rs 4.65 Arba, equivalent to 60 lakh shares or 60 crore. Out of this, 40% (24 lakh shares) has already been issued and allotted to Qualified Institutional Investors (QIIs), with the remaining 60% (36 lakh shares) set to be issued to the general public later.

    The ‘cut-off price’ plays a crucial role in IPOs conducted under the book-building process. During the primary shares allotment to qualified institutional investors, the ‘cut-off price’ for Sarbottam Cement was established at Rs 401. Following regulatory guidelines, shares are offered to the general public at a discounted rate, specifically 10% lower than the ‘cut-off’ price. For Sarbottam Cement, this translates to Rs 360.90 per share for common investors.

    Prospective investors are required to apply for a minimum of 50 units during the book-building process, and they are expected to allocate at least Rs 18,045 to participate in this offering. Global IME Capital is overseeing the management of the IPO for Sarbottam Cement.

    Additionally, ICRA Nepal has reaffirmed Sarbottam Cement Limited’s issuer rating as [ICRANP-IR] BBB+ and has maintained the long-term rating at [ICRANP] LBBB+ along with a short-term rating of [ICRANP] A2 for Sarbottam’s bank loan limits.

  • Nepal Investment Mega Bank’s 10% NIMB Debenture 2090 Secures Regulatory Approval

    Nepal Investment Mega Bank’s 10% NIMB Debenture 2090 Secures Regulatory Approval


    The Securities Board of Nepal has granted approval for Nepal Investment Mega Bank Limited’s “10% NIMB Debenture 2090.” The regulatory nod was received on Poush 2, 2080.

    The debenture issuance, titled “10% NIMB Debenture 2090,” comprises a total of 40.40 lakh units, with each unit having a par value of Rs. 1,000. Out of the total units, 16.16 lakh will be made available to the general public, while the remaining 24.24 lakh units will be subscribed via private placement.

    Prabhu Capital Limited has been appointed as the issue manager for the debenture issuance.

    As indicated by its name, the “10% NIMB Debenture 2090” comes with a maturity period of 10 years, set to mature in the year 2090 BS. Unitholders of the debenture can expect a 10% annual return on their investment.

  • Securities Board of Nepal Approves Nabil Bank’s ‘9% Nabil Debenture 2087’ Offering

    Securities Board of Nepal Approves Nabil Bank’s ‘9% Nabil Debenture 2087’ Offering


    Nabil Bank Limited has received approval from the Securities Board of Nepal for its ‘9% Nabil Debenture 2087’ on Mangsir 10, 2080. The debenture issuance comprises a total of 30 lakh units, each with a par value of Rs. 1,000. Out of this total, 12 lakh units will be made available to the general public, while the remaining 18 lakh units will be allocated through private placement. The issuance is being managed by Kumari Capital Limited.

    As indicated by its name, the ‘9% Nabil Debenture 2087’ comes with a maturity period of 7 years, reaching maturity in the year 2087 BS. Investors holding these debentures can expect an annual return of 9%.

  • Securities Board Approves Citizens Bank’s 10% Bond Offering for 2080

    Securities Board Approves Citizens Bank’s 10% Bond Offering for 2080


    The Securities Board of Nepal has granted approval to Citizens Bank International Limited’s ‘10% Citizens Bank Bond 2080.’ This regulatory clearance was given on the 29th of Bhadra, 2080.

    The ‘10% Citizens Bank Bond 2080’ offering consists of a total of 30 lakh units, with each unit having a par value of Rs. 1,000. Out of the overall issuance, 12 lakh units are designated for the general public, while the remaining 18 lakh units will be made available through private placement.

    Himalayan Capital Limited has been selected to serve as the issue manager for this bond offering.

    As the name implies, the ‘10% Citizens Bank Bond 2080’ comes with a maturity period of 10 years, set to reach maturity in the year 2090 BS. Investors holding these debentures can anticipate an annual return of 10% on their investment.

  • “SEBON Approves Vision Lumbini Urja’s Rs 38.25 Crore IPO Proposal”

    “SEBON Approves Vision Lumbini Urja’s Rs 38.25 Crore IPO Proposal”


    The Securities Exchange Board of Nepal (SEBON) has given its approval for the Initial Public Offering (IPO) of Vision Lumbini Urja Company Limited. This IPO is scheduled for Bhadra 05, 2080. In this offering, the company plans to release 3,825,000 equity shares, each with a nominal value of NPR 100. The total value of the IPO is set at Rs. 38.25 Crore, which represents 20% of the company’s existing issued capital. Following the allotment of shares through the IPO, the company’s total paid-up capital will increase to Rs. 1.91 Arba from the current Rs. 1.53 Arba. Muktinath Capital Limited has been appointed as the manager overseeing the IPO process, and the application for this IPO was originally submitted on Falgun 28, 2079.

     

  • SEBON Approves IPOs for Chirkhwa Hydropower and Mathillo Mailun Khola Jalvidhyut

    SEBON Approves IPOs for Chirkhwa Hydropower and Mathillo Mailun Khola Jalvidhyut


     

    SEBON Approves IPOs for Chirkhwa Hydropower and Bhagwati Hydropower

    The Securities Exchange Board of Nepal (SEBON) has given the green light to the initial public offering (IPO) proposals of Chirkhwa Hydropower Limited and Bhagwati Hydropower Development Company Limited on Ashad 20, 2080. Chirkhwa Hydropower will issue 1,200,000 equity shares at a par value of NPR 100 each, amounting to Rs. 12 Crore, which is 30% of the company’s issued capital. The total paid-up capital for the company will be Rs. 40 crore after the IPO allotment. RBB Merchant Banking Limited has been appointed as the issue manager for the IPO issuance, with the proposal initially submitted on Kartik 17, 2079.

     

  • SEBON Approves Himalayan Capital’s “Himalaya 80-20” Mutual Fund Scheme with 10 Crore Units

    SEBON Approves Himalayan Capital’s “Himalaya 80-20” Mutual Fund Scheme with 10 Crore Units


     

    The Securities Board of Nepal (SEBON) has given its approval for the “Himalayan 80-20” mutual fund scheme, which is valued at Rs 1 Arba. This closed-end scheme will offer 10 crore unit shares with a par value of Rs 10 per share. The scheme is sponsored by Himalayan Bank Limited (HBL) and managed by Himalayan Capital Limited. It is noteworthy that this is the first mutual fund scheme to be operated by Himalayan Capital.

  • 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.

  • SEBON Approves Upper Syange Hydropower IPO Proposal

    SEBON Approves Upper Syange Hydropower IPO Proposal


     

    The Securities Exchange Board of Nepal (SEBON) has authorized Upper Syange Hydropower Limited’s proposed initial public offering (IPO) on Baisakh 13, 2080.

    The corporation will now issue 870,000 equity shares at NPR 100 per share. The issuance is worth Rs. 8.7 crore. This is equivalent to 39.55% of the company’s issued capital. The company’s total paid-up capital following the IPO allotment will be Rs 22 crores.