Tag: Bank

  • Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years

    Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years


    Citizens Bank International Limited (CZBIL) is launching a home loan scheme featuring a fixed interest rate of 9.99% for the initial seven years, providing customers with an opportunity to realize their dream homes. Following this initial period, a premium rate, 1% higher than the bank’s average monthly base rate, will be applicable.

    The home loan package encompasses a 0.50% management fee and offers additional benefits, including a complimentary credit card, debit card, and a 50% discount on locker facility fees for the first year. This initiative is aimed at facilitating and encouraging individuals in acquiring housing loans with favorable terms.

    CZBIL, with a widespread presence of 190 branches and 152 ATMs across the nation, serves a significant customer base of 17 lakh 26 thousand through 97 branchless banking units, providing modern banking services to meet diverse financial needs.

  • Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores

    Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores


    The Initial Public Offering (IPO) proposal of Lower Erkhuwa Hydropower Company Ltd. is currently under review by SEBON (Securities Board of Nepal). The company has submitted a proposal to issue a total of 2,805,750 shares, aiming to raise Rs. 28.05 crores. The application for the IPO was submitted on Falgun 11, 2080.

    Muktinath Capital Limited has been appointed as the issue manager for the public offering, overseeing the regulatory and procedural aspects of the IPO process. In terms of credit assessment, ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating double B minus) to Lower Erkhuwa Hydropower Company Limited. This rating indicates a moderate risk of default concerning the timely servicing of financial obligations.

    Lower Erkhuwa Hydropower Company Limited, established on February 10, 2008, is actively engaged in the development of the Lower Erkhuwa Khola Hydropower Project. This venture, with a capacity of 13.04 MW, is located in Bhojpur district, Province No. 1 of Nepal. The project follows a run-of-the-river (R-o-R) type design and is currently in development at a 40% probability of exceedance (Q40). The Power Purchase Agreement (PPA) for this initiative features a unique approach, incorporating a six-month dry energy period and a six-month wet energy period, with a dry energy mix comprising approximately 30%.

    The inclusion of Lower Erkhuwa Hydropower Company Ltd.’s IPO in SEBON’s pipeline signifies the company’s move toward accessing the capital market for funding its ongoing projects and future endeavors.

  • Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding

    Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding


    Corporate Development Bank Limited (CORBL) is set to auction 3,08,500 shares to existing promoter shareholders, beginning today. The interested parties are invited to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080. Bids should be submitted at the company’s central office located in Birgunj, Parsa. CORBL closed at Rs. 410.00 on the last trading day.

    In another auction notice, the existing promoters of Infinity Laghubitta Bittiya Sanstha Limited (ILBS) are offering 15,000 units of shares for auction, open to both existing promoter shareholders and the general public/institutions, starting from today. Interested individuals and promoter shareholders can bid for these shares within 15 days at the company’s central office in Gaidakot, Nawalparasi.

    Furthermore, ILBS promoters are also auctioning 60,050 units of shares exclusively for existing promoter shareholders, starting from today. If no bids are received within the stipulated 35-day timeframe, the shares will be open for auction to the general public. ILBS has a last traded price (LTP) of Rs. 675.00, while ILBSP has an LTP of Rs. 361.00.

    Similarly, the existing promoter of United Ajod Insurance Limited (UAIL), Sushila Goyal, is auctioning 52,593 units of shares to interested existing promoter shareholders, starting from today. Eligible shareholders are requested to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080, at the corporate office located at CTC Mall, Sundhara, Kathmandu. If no bids are received within the specified timeframe, the shares will be later auctioned to the general public. UAIL closed at Rs. 515.20.

    These auctions present opportunities for existing promoters to acquire shares within their respective institutions and contribute to the dynamic nature of the stock market

  • A” class banks-Open bank ac “Online

    A” class banks-Open bank ac “Online


    Hello everyone, I’m new to this group…I’m wondering is there any A class bank that offers “Online” account registration? I’m currently overseas and need to open a bank account to enter in Stock market.

    I have both my Nagrita and passport with me here.

    great thanks

    View on r/NepalStock by DependentRespond757

  • Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000

    Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000


    The price of gold has seen a significant rise, increasing by Rs. 560 per tola compared to the previous day’s trading. As reported by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is currently being traded at Rs. 1,19,000 per tola, marking a Rs. 600 increment from yesterday’s trading price of Rs. 1,18,400 per tola.

    Similarly, Tejabi gold is available today at Rs. 1,18,450 per tola, reflecting a notable increase of Rs. 600 from its previous price of Rs. 1,17,850 per tola. Additionally, the silver market has observed a slight uptick, with the current rate standing at Rs. 1,390 per tola, as opposed to the closing rate of Rs. 1,405 per tola recorded the day before.

    This surge in gold prices indicates dynamic market conditions, influenced by various factors impacting precious metal values.

  • Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions

    Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions


    The current promoter of Kumari Bank Limited (KBL) has initiated the auction of 6,41,284 units of shares exclusively to interested promoter shareholders, starting from today. Only eligible shareholders are invited to participate in the auction, with bids accepted within 35 days from the date of this notice, concluding on the 18th of Falgun. Bidders are instructed to submit their bids either at the bank’s central office in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. In the event of no bids from existing founder shareholders within the specified timeframe, the shares will subsequently be open for auction to the general public. KBL closed at Rs. 140.60 on the last trading day, while KBLPO recorded a Last Traded Price (LTP) of Rs. 106.00 as of February 21, 2024.

    Similarly, an auction notice has been issued by the existing promoter of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) for the sale of 6,206 units of shares to interested promoter shareholders. Indra Bahadur Godar, the existing promoter, invites bids within 35 days from the publication date of this notice, until the 18th of Falgun, 2080. Shareholders willing to participate should submit their bids either at the institution’s corporate office in Mahalaxmi-04, Lalitpur, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. If no bids are received from existing founder shareholders within the stipulated timeframe, the shares will then be auctioned to the general public. SWMF closed at Rs. 658.20 in the previous trading session, and SWMFPO reported an LTP of Rs. 196.00 as of February 8, 2024

  • Seed Energy Partners with NMB Capital for Initial Public Offering Management

    Seed Energy Partners with NMB Capital for Initial Public Offering Management


    Seed Energy Ltd has finalized an agreement with NMB Capital Limited for the management of its Initial Public Offering (IPO). This development signifies a noteworthy achievement for Seed Energy Ltd as it prepares to introduce its shares to the public. The collaboration with NMB Capital Limited, a renowned entity in issue management, is anticipated to be pivotal in ensuring the IPO’s success. This strategic partnership marks a significant advancement for Seed Energy Ltd and fosters optimism regarding the potential prosperity of the forthcoming IPO.

  • Citizen Life Insurance Lists 18,75,000 Bonus Shares on NEPSE After 7th AGM Approval

    Citizen Life Insurance Lists 18,75,000 Bonus Shares on NEPSE After 7th AGM Approval


    Citizen Life Insurance Company Limited (CLI) has successfully listed 18,75,000 units of bonus shares on the Nepal Stock Exchange (NEPSE). This follows the company’s 7th Annual General Meeting (AGM) held on the 14th of Magh, 2080, where a dividend of 5.2632% for the fiscal year 2079/80 was endorsed. The proposed distribution included 5% bonus shares and a 0.2632% cash dividend (for tax purposes), all derived from the company’s paid-up capital of Rs. 3.75 Arba.

    The bonus shares, as approved during the AGM, are now officially listed on NEPSE. CLI’s closing market price as of the previous day stood at Rs. 434.00. The listing of bonus shares reflects CLI’s commitment to providing returns to its shareholders, reinforcing its financial standing and attractiveness in the market.

  • Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details

    Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details


    Shikhar Insurance Company Limited (SICL) has announced its 19th Annual General Meeting (AGM) scheduled for the 9th of Chaitra, 2080. The AGM is set to take place at the Shikhar Insurance Company Ltd’s Head Office, Shikhar Biz Center in Thapathali, Kathmandu, starting at 11:00 AM.

    The outlined agendas for the AGM include the endorsement of financial reports for the fiscal year 2079/80, approval of the auditor’s report encompassing Profit and Loss statements, financial reports, and cash flow reports, as well as the confirmation of the auditor’s appointment for the fiscal year 2080/81. Additionally, the AGM will involve the election of four directors, with three representing the promoter shareholding group and one from the public shareholding group. The authorization of expenditures related to corporate social responsibility initiatives will also be addressed, along with miscellaneous matters.

    In a decision made during the 322nd Board Meeting on Falgun 04, 2080, SICL communicated that there would be no dividend distribution for the fiscal year 2079/80. The book closure date is set for Falgun 27, allowing shareholders maintained before that date to participate in the AGM.

  • NEPSE Records 1.43% Decline: Market Overview, Top Gainers, and Losers

    NEPSE Records 1.43% Decline: Market Overview, Top Gainers, and Losers


    The Nepal Stock Exchange (NEPSE) Index witnessed a decline of 28.68 points or 1.43% compared to the previous day’s closing, settling at 1,972.09 points. This followed a loss of 0.87 points in the preceding trading session. The market opened at 2,001.02, reaching an intraday high of 2,007.57 and hitting a low of 1,970.04.

    Throughout today’s trading session, a total of 309 different stocks were traded in 48,349 transactions. The volume of shares exchanged reached 7,446,991, contributing to a turnover of Rs. 2.59 Arba. The market capitalization was reported at Rs. 30.99 Kharba, with a float market capitalization of Rs. 10.58 Kharba.

    Sonapur Minerals And Oil Limited (SONA) took the lead in turnover, accumulating Rs. 11.13 crores and concluding the day with a market price of Rs. 440.00.

    Among the notable performers, Bottlers Nepal (Balaju) Limited (BNL) emerged as today’s highest gainer, experiencing a 10% increase. Following closely, Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) demonstrated a gain of 9.86%.

    On the contrary, Joshi Hydropower Development Company Ltd (JOSHI) faced the most significant loss of 10%.

    In the sectoral analysis, all sectors closed in the red today, with the “Finance Index” marking the highest loss at 3.21%, while the “Mutual Fund Index” recorded the least loss at 0.36%.

  • Allotment Concluded for Kumari Sabal Yojana: 29,134 Valid Applicants Successfully Allocated Units

    Allotment Concluded for Kumari Sabal Yojana: 29,134 Valid Applicants Successfully Allocated Units


    Kumari Capital Limited recently launched its latest closed-end mutual fund, the “Kumari Sabal Yojana,” with a total value of Rs 1 Arba. The subscription period for this fund began on the 28th of Magh and concluded on the 13th of Falgun, 2080. The allotment process, conducted at Kumari Capital’s premises in Naxal, was finalized on the 16th of Falgun at 10 AM.

    Out of the total 10 crore unit shares, the scheme manager Kumari Capital Limited was allocated 10 lakh units worth Rs. 1 crore, while the fund sponsor Kumari Bank Limited received 1.4 crore units, representing 14% and valued at Rs. 14 crore. The remaining 8.5 crore units, amounting to Rs 85 crore, were issued to the general public.

    According to Kumari Capital, they received a total of 29,160 applications, and after careful scrutiny, 29,134 valid applicants were successfully allotted the issued units. Unfortunately, 26 applications were rejected due to the identification of duplicate submissions during the verification process.

    For those whose applications were rejected, the fund manager emphasizes the importance of adhering to application guidelines in future investment opportunities to ensure a smooth and successful process.

    Currently managing two closed-end funds, Kumari Equity Fund (KEF), and Kumari Dhanabriddhi Yojana (KDBY), along with one open-end fund, Kumari Sunaulo Lagani Yojana (KSLY), Kumari Capital Limited strengthens its diverse portfolio in the market with the successful introduction of the “Kumari Sabal Yojana.”

     

  • Jalpa Samudayik Laghubitta & Kisan Laghubitta Call AGMs to Approve Merger Proposal

    Jalpa Samudayik Laghubitta & Kisan Laghubitta Call AGMs to Approve Merger Proposal


     

    Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) and Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) have scheduled their respective 5th Annual General Meetings (AGMs) on the same date, 9th Chaitra, 2080. JALPA’s AGM will take place at The SR Hotel in Tilottama, Rupandehi, starting at 9:00 AM, while KLBSL’s AGM will be held at Taaj Palace in Golfutar, Kathmandu, beginning at 11:00 AM. Both meetings aim to discuss and potentially approve a proposal for the merger between the two organizations.