Tag: been

  • Infinity Laghubitta Bittiya Sanstha Limited Reports Decreased Net Profit in Q3, with Decline in Core Revenue and Operating Profit

    Infinity Laghubitta Bittiya Sanstha Limited Reports Decreased Net Profit in Q3, with Decline in Core Revenue and Operating Profit


    Infinity Laghubitta Bittiya Sanstha Limited (ILBS) has released its third-quarter report for the current fiscal year, showing a decreased net profit of Rs. 1.38 crores. In the corresponding quarter of the previous fiscal year, the company had recorded a profit of Rs. 11.83 crores.

    The microfinance company’s net interest income, which is its core revenue, has decreased by 24.19% to Rs. 19.30 crores in the third quarter of the current fiscal year, compared to Rs. 25.47 crores generated in the same period of FY 2078/79.

    ILBS’s operating profit has experienced a significant decline of 88.48%, amounting to Rs. 1.94 crores up to the third quarter of the ongoing fiscal year. Additionally, the non-performing loan (NPL) of the company has nearly tripled, reaching 14.04%.

    Furthermore, minor fluctuations have been observed in the company’s deposits, borrowings, and personnel expenses, with changes of -1.02%, -6.32%, and 6.77% respectively, as indicated in the third-quarter report.

    Infinity Laghubitta maintains a paid-up capital of Rs. 49.74 crores, along with Rs. 17.96 crores in the form of reserve and surplus, which includes reserves and retained earnings.

    The company’s earnings per share (EPS) ratio is lower at Rs. 3.70, while the net worth per share stands at Rs. 136.11.

    At the end of the third quarter, the company’s closing price was Rs. 644.90.

  • Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals

    Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals


    Ghorahi Cement Industry Limited has announced the closure of its Initial Public Offering (IPO) for Nepalese citizens working abroad starting from 2nd Jestha, 2080. The company has also extended the IPO deadline for project-affected locals until 17th Jestha. The IPO had initially opened on 19th Baisakh, 2080.

    With an issued capital of Rs. 3.97 Arba, Ghorahi Cement will be issuing 20% of its shares, totaling 79,43,801 units, to the public, including locals, Nepalese citizens working abroad, and the general public. Out of the total issued capital, 1% or 397,190 units have been allocated to project-affected locals in the Dang District. Additionally, 19% or 75,46,611 units will be issued later for the general public, with 10% or 7,54,661 units specifically allocated for Nepalese citizens working abroad, closing today.

    The shares will be offered at Rs. 400 per unit for locals and Rs. 435 per unit for Nepalese citizens working abroad, including premiums of Rs. 300 and Rs. 335, respectively.

    Himalayan Capital Limited and Nabil Investment Banking Limited have been appointed as the issue managers for the IPO. Following the issuance, the promoter-public share ratio will be 80:20, generating a total of Rs. 3.44 Arba for the company. Out of this amount, Rs. 2.645 Arba will be allocated as a premium, while the remaining will be added to the paid-up capital.

    According to CDSC, a total of 13,236 applications have been received from Nepalese citizens working abroad, representing a demand for 595,520 units so far.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited, indicating a moderate degree of safety regarding the timely servicing of financial obligations in Nepal.

  • NIC Asia Bank Limited Initiates Auction of 345,680 Promoter Shares to General Public

    NIC Asia Bank Limited Initiates Auction of 345,680 Promoter Shares to General Public


    Promoters of NIC Asia Bank Limited (NICA) have initiated an auction to sell 345,680 units of their promoter shares to the general public. The auction period will run from the 2nd of Jestha to the 9th of Jestha, 2080.

    The auction is open to individual investors, companies, and institutions, with a minimum bid rate of Rs. 365. Interested bidders must submit a minimum bid quantity of 1000 units for the promoter shares. While bidders can bid for the entire issue, they must comply with the regulations set by the Nepal Rastra Bank, which restrict the quantity of shares per entity.

    NIBL Ace Capital Limited has been appointed as the auction manager for this process. Bids will be opened at the premises of the auction manager on the 10th of Jestha, 2080, at 3 PM.

    As of the time of writing, the Last Traded Price (LTP) of NICA stands at Rs. 694.60.

  • Unique Nepal Laghubitta Bittiya Sanstha Limited Announces Follow on Public Offer (FPO) to Adjust Shareholding Ratio

    Unique Nepal Laghubitta Bittiya Sanstha Limited Announces Follow on Public Offer (FPO) to Adjust Shareholding Ratio


    Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) has recently announced its plan to issue a Follow on Public Offer (FPO) to the general public. The company aims to release 3,79,425 unit shares with a face value of Rs. 100 starting from the 11th of Jestha, 2080. The objective of this FPO is to collect Rs. 3.79 crore. The offer will be open until the 16th of Jestha, and if not fully subscribed, it may be extended until the 25th of Jestha, 2080.

    Currently, the company’s paid-up capital stands at Rs. 11.06 crores, with 94.01% of shares (10,40,025 units) held by the promoters and 5.99% (66,300 units) held by the public shareholders. However, as per the regulations of the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital must be retained by the public shareholders. To comply with this requirement, the company plans to issue 3,79,425 units of FPO shares to the general public. Following the FPO, the promoter-to-public share structure will change from 94:6 to 70:30.

    It is worth noting that Unique Nepal Laghubitta had initially intended to issue an IPO for 2.70 lakh shares. However, due to a successful merger with Ghodighoda Laghubitta, the two companies commenced their joint operation on the 30th of Poush, 2078, under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited. Since Ghodighoda Laghubitta was already a publicly listed company, the merged entity has opted to issue an FPO to adjust its shareholding ratio.

    Muktinath Capital Limited has been appointed as the issue manager for the FPO issuance. Interested individuals can apply for a minimum of 10 units and a maximum of 1000 units. Following the issuance of the mentioned FPO shares, the company’s paid-up capital will increase to Rs. 14.85 crores.

  • Mai Khola Hydropower Limited Lists 39,21,568 Units of IPO Shares on NEPSE

    Mai Khola Hydropower Limited Lists 39,21,568 Units of IPO Shares on NEPSE


    Mai Khola Hydropower Limited has successfully listed 39,21,568 units of IPO shares on the Nepal Stock Exchange (NEPSE). This figure includes shares held by the promoters, as well as shares issued to project-affected locals and the general public.

    The initial trading range for these shares is set between Rs. 111.67 and Rs. 335.01. If the company enters into an agreement with NEPSE, the IPO shares will be eligible for trading on the secondary market the following day.

    Among the total shares available, 12,69,411 units worth Rs. 12.69 Crore were specifically issued as Initial Public Offerings to the general public during the period of Baisakh 8-12, 2080.

  • Bonus Shares of Four Companies Listed in NEPSE

    Bonus Shares of Four Companies Listed in NEPSE


    The NEPSE has listed a total of 26,37,583.15 unit bonus shares of Agricultural Development Bank Limited (ADBL), signaling a significant development for the bank. This comes after the bank’s 16th Annual General Meeting (AGM) held on 14th Chaitra, where a 13% dividend for the fiscal year 2078/79 was endorsed. The Board of Directors (BoD) meeting held on Poush 26 had proposed distributing 2% bonus shares and an 11% cash dividend to the shareholders. The same bonus shares have now been listed in NEPSE, with ADBL currently having a Last Traded Price (LTP) of Rs. 228.

    Salt Trading Corporation Limited (STC) has also seen 2,53,531.19 unit bonus shares listed in NEPSE. The company’s 56th AGM, held on 10th Chaitra, approved a 15% dividend from the profits of FY 78/79. The Board of Directors meeting on Poush 28 proposed distributing 10% bonus shares and a 5% cash dividend (including tax amount) from the profits of the same fiscal year. STC closed at Rs. 3,623 as of the latest update.

    Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) has witnessed the listing of 2,43,564.30 unit bonus shares in NEPSE. During the company’s 6th AGM on the 11th Chaitra, a 21.0526% dividend worth Rs. 2.56 crores for the fiscal year 2078/79 was endorsed. The board meeting on Magh 11 proposed distributing 20% bonus shares and a 1.0526% cash dividend (for tax purposes) based on the paid-up capital of Rs. 12.17 crores. SMFBS currently has an LTP of Rs. 910.

    Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has listed 12,21,772.39 unit bonus shares in NEPSE. The company’s 12th AGM on 30th Poush approved a 23% dividend for the fiscal year 2078/79. The board meeting on Poush 06 decided to distribute 23% bonus shares from the profit and reserves maintained for the same fiscal year. The bonus shares, amounting to Rs. 12.21 crores, will be distributed to the shareholders. MMFDB currently has an LTP of Rs. 560.

    The listing of bonus shares in NEPSE indicates positive developments for these companies and provides additional benefits to their shareholders.

  • Jyoti Bikas Bank (JBBL) Distributes 3% Bonus Shares and Encourages Dematerialization

    Jyoti Bikas Bank (JBBL) Distributes 3% Bonus Shares and Encourages Dematerialization


    Jyoti Bikas Bank Limited (JBBL) has recently provided 3% bonus shares directly to the DEMAT accounts of its shareholders and has urged them to convert their physical shares into electronic form through dematerialization. The bank’s move aims to facilitate seamless share transactions and promote the modernization of shareholding processes.

    During the bank’s 15th Annual General Meeting (AGM) held on the 14th of Falgun, a dividend of 6.80% amounting to Rs. 29.02 crores was endorsed for the fiscal year 2078/79. The dividend distribution decision was made during the 440th board of directors meeting on Poush 22. Based on the bank’s paid-up capital of Rs. 4,26,77,53,287, the proposed distribution includes 3% bonus shares valued at Rs. 12.80 crores and a 3.80% cash dividend (intended for tax purposes) totaling slightly over Rs. 16.21 crores. It is important to note that the bonus shares have already been listed on the Nepal Stock Exchange (NEPSE).

    JBBL has also requested its shareholders to pay the applicable tax amount for the 11% bonus shares proposed during the fiscal year 2077/2078, including the cash dividend approved during the 15th AGM. Shareholders can find detailed information regarding the tax amount they are required to pay on the website of the share registrar, NIBL Ace Capital Limited.

    By distributing bonus shares and emphasizing the dematerialization process, JBBL demonstrates its commitment to providing value to its shareholders and keeping up with technological advancements in the financial industry. The bank’s efforts aim to enhance efficiency, transparency, and convenience for its shareholders.

  • NEPSE Index Records Weekly Loss

    NEPSE Index Records Weekly Loss


    The NEPSE Index, the stock market index of Nepal, concluded the week at a level of 1,838.59, representing a loss of 31.14 points or 1.67%. This decrease follows a similar 1.67% decline from the previous week when the index closed at 1,869.73.

    Throughout the week, the index displayed volatility, with a high of 1,872.22 and a low of 1,825.83. This indicates a range of 37.68 points, which is slightly lower than the 46.39 points of volatility observed in the previous week.

    Analyzing the trend data on daily charts, it is evident that both the short-term and mid-term trends are downward. Each day, the index has been making lower lows, indicating a bearish market sentiment prevailing in the market.

    On Tuesday, there was a notable intraday gain of 10.67 points, accompanied by a turnover of Rs 0.77 Arba. However, the total turnover for the week amounted to Rs 3.25 Arba, indicating moderate trading activity.

    Overall, the NEPSE Index experienced a downward trend during the week, characterized by volatility and declining values. Investors witnessed a bearish market sentiment with the index consistently making lower lows.

  • Modi Energy Limited IPO Allotment Concludes: Lottery Results Announced

    Modi Energy Limited IPO Allotment Concludes: Lottery Results Announced


    The IPO allotment of Modi Energy Limited has been successfully completed at the premises of Sunrise Capital Limited in Kathmandu. The company had issued 55,59,420 units worth Rs. 55.59 crores as Initial Public Offering (IPO) to the general public from Baisakh 19 to 24, 2080.

    Prior to the IPO, the company had allocated 29,00,000 unit shares worth Rs. 29 crores to project-affected locals in Parbat District. However, only 804,390 units or 27.73% were allotted to valid applicants. As a result, the remaining 20,95,610 units of unsubscribed shares from project-affected locals were added to 43,50,000 units reserved for the general public, making a total of 64,45,610 units available to the public.

    Out of the total 64,45,610 units, 435,000 units were already issued and allotted to Nepalese citizens working abroad. Additionally, 5% of the offered shares, equivalent to 322,280 units, were reserved for mutual funds, and 2% or 128,910 units were set aside for employees of the company. The remaining 55,59,420 units were allocated to the general public. Some unsubscribed units from employees, totaling 52,840 units, were added to the general public pool, resulting in a total of 56,12,260 units.

    Promoter shareholders hold 75% of the shares in the company, while the general public and other allocated categories hold the remaining shares.

    The IPO received a tremendous response, with 12,29,741 valid applicants applying for a total of 13,401,080 units, oversubscribing the issue by more than 2.41 times.

    Under the allotment module, a total of 5,61,226 applicants were allotted 10 units each through a lottery, while the remaining 6,68,515 applicants were not successful in securing any shares.

    Furthermore, 322,280 units were allocated to mutual funds, and out of the 128,910 units set aside for employees, only 76,070 units were subscribed and allotted. The remaining 52,840 units from the employee category were added to the general public pool.

    Unfortunately, 6,528 applicants who applied for 102,950 units were disqualified during the allotment process.

    Overall, the IPO allotment process has been completed, and successful applicants have been notified of their allotted shares.

  • Sagarmatha Lumbini Insurance Company (SALICO) Lists 26,226,382 Shares After Merger of SIC and LGIL

    Sagarmatha Lumbini Insurance Company (SALICO) Lists 26,226,382 Shares After Merger of SIC and LGIL


    Sagarmatha Lumbini Insurance Company Limited (SALICO) has listed 26,226,382 shares on the Nepal Stock Exchange (NEPSE) following a successful merger between Lumbini General Insurance Limited (LGIL) and Sagarmatha Insurance Company Limited (SIC).

    The merger agreement between SIC and LGIL was signed on 30 Ashad, 2079. The swap ratio for the merger was set at 100:80, resulting in a 20% decrease in the number of LGIL shareholders. After the merger, the total listed shares of SIC and LGIL combined amounted to 26,226,382 units.

    Following the successful merger, SIC and LGIL began conducting joint operations under the name Sagarmatha Lumbini Insurance Company Limited (SALICO) starting from Falgun 29, 2079. Consequently, the listed shares will be traded under the symbol “SALICO.”

    The opening price range for the initial transactions has been set at Rs. 599.12.

  • RBB Merchant Banking Closes RBB Mutual Fund 2 Issue to General Public

    RBB Merchant Banking Closes RBB Mutual Fund 2 Issue to General Public


    RBB Merchant Banking Limited has concluded the public offering of its mutual fund scheme, “RBB Mutual Fund 2,” on the specified date of 31st Baisakh. The offering, which initially opened on the 17th Baisakh and was intended to close on the 21st Baisakh, had been extended due to an insufficient number of applications.

    Out of a total of 12 crore unit shares, the fund sponsor, Rastriya Banijya Bank Limited, has been allocated 15% or 1.80 crore units worth Rs. 18 crores. The remaining 10.20 crore units were made available to the general public.

    As reported by CDSC (Central Depository System and Clearing Ltd.), as of 5 PM last Friday, a total of 15,651 applicants have applied for 46,046,424 units worth Rs. 46.04 crores.

    “RBB Mutual Fund 2” is a closed-end fund that will be traded on the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants were able to apply for a minimum of 100 units up to a maximum of 12,000,000 units.

    RBB Merchant Banking Limited currently manages another closed-end fund, RBB Mutual Fund 1 (RMF1), in the market.

  • Due to Violation of NRB’s Guideline, 15% Dividend of RULB Canceled

    Due to Violation of NRB’s Guideline, 15% Dividend of RULB Canceled


    Nepal Rastra Bank (NRB) Cancels Dividend Proposal of Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB)

    The dividend proposal put forth by Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has been canceled by the Nepal Rastra Bank. During the 86th meeting of the board of directors held on Baisakh 13, the company had proposed a 15% dividend for the fiscal year 2078/79 based on the paid-up capital of Rs. 26 Crores. The proposal included the distribution of 14.25% bonus shares valued at Rs. 3.7 crores and a cash dividend of 0.75% amounting to Rs. 19.50 lakhs.

    However, as per a notice from the Nepal Stock Exchange (NEPSE), the dividend proposal required approval from the Nepal Rastra Bank (NRB), which has now been canceled due to non-compliance with the Nepal Financial Reporting Standards (NFRS) in the financial statement.

    Furthermore, a letter regarding the company’s annual general meeting was sent to the NRB on Baisakh 20, but the proposed dividend was not included in the letter. As a result, the dividend proposal has been rejected by the NRB.