Tag: been

  • Listing of 4,77,020 Bonus Shares of Asha Laghubitta Bittiya Sanstha Limited (ALBSL) on NEPSE

    Listing of 4,77,020 Bonus Shares of Asha Laghubitta Bittiya Sanstha Limited (ALBSL) on NEPSE


    Asha Laghubitta Bittiya Sanstha Limited (ALBSL) Lists 4,77,020 Bonus Shares on NEPSE at an LTP of Rs. 670

    Following the convening of its 6th Annual General Meeting on 11th Chaitra, Asha Laghubitta Bittiya Sanstha Limited (ALBSL) has listed 4,77,020 unit bonus shares on the Nepal Stock Exchange (NEPSE). The AGM had approved a 15% dividend for the fiscal year 2078/79, with the board of directors deciding to distribute 14.2857% bonus shares and 0.7143% cash dividend (for tax purposes) based on the paid-up capital of Rs. 33.39 Crores. The bonus shares have now been officially listed on NEPSE, and as of the latest update, ALBSL is trading at an Last Traded Price (LTP) of Rs. 670.

  • Bindhyabasini Hydropower Development Company Limited Reports a 48.81% Decrease in Q3 Net Profit Due to Machinery Breakdown

    Bindhyabasini Hydropower Development Company Limited Reports a 48.81% Decrease in Q3 Net Profit Due to Machinery Breakdown


    Bindhyabasini Hydropower Development Company Limited (BHDC) has published its Q3 report of FY 2079/80, reporting a 48.81% decrease in net profit. The company’s net profit has reached Rs. 6.41 crores in this quarter compared to Rs. 12.53 crores in the corresponding quarter of the previous year. The company’s total revenue stood at Rs. 21.02 crores, with an increase in administrative expenses by 53.78% and a slight decrease in financial expenses.

    The paid-up capital of the company stood at Rs. 1.05 Arba, an increase of 40% compared to the previous fiscal year. However, the company suffered a significant decline in net profit due to machinery breakdown, resulting in a decrease in overall production and operations.

    Rudi Khola B Hydropower Project, one of the two projects operated by BHDC, had reported damages in the pipeline due to landslides experienced on Shrawan 18, 2079, while issues in the power transformer of the project had been reported on Falgun 01, 2079.

    According to the management analysis of the company, the decline in net profits was primarily due to machinery breakdown, resulting in adverse impacts on the company’s overall profitability. Despite the decline, the annualized earnings per share for BHDC stood at Rs. 8.15, while the net worth per share was Rs. 113.69.

    In conclusion, BHDC’s Q3 report highlights the adverse impact of machinery breakdown on the company’s overall operations and profitability, leading to a significant decline in net profit. The company is continuously working on resolving the issues that have caused the decline in its net profit and improving its operations to ensure stable growth in the coming quarters.

  • 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.

  • 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.

  • 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.

  • 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.

  • Sanima Mai Hydropower reports 20.40% decline in net profit in Q3 of FY 2079/80

    Sanima Mai Hydropower reports 20.40% decline in net profit in Q3 of FY 2079/80


    Sanima Mai Hydropower Company Limited (SHPC) has reported a decline in net profit by 20.40% in the third quarter (Q3) of FY 2079/80. The company’s net profit decreased to Rs. 35.82 crores in this quarter from Rs. 45 crores in the corresponding quarter of the previous year. The decline in net profit is due to a decrease in revenue from the Sale of Electricity, which decreased by 16.16% compared to the corresponding previous year’s quarter ending. The decreased revenue is attributed to the end of the Posted Rate Facility Agreement for Mai Hydropower Project (15.6 MW) and unfavorable hydrological conditions during this quarter.

    The company has invested around Rs. 3.62 Arba in associates, which have increased by 196.12% in this quarter. SHPC has investments in various associates companies, including Sanima Middle Tamor Hydropower Ltd, Mathillo Mailun Khola Jalvidhyut Hydropower Ltd, Bavari Construction Pvt. Ltd, and Sanima Jum Hydropower.

    SHPC has a share capital of Rs. 3.08 Arba, and the retained earnings are Rs. 1.11 Arba, with other reserves of Rs. 2.39 Arba. The company has recognized other comprehensive gain of NPR. 2,388,872,000 resulting from the fair value measurement of shares invested in Swet Ganga Hydropower and Construction Ltd. and Sanima Middle Tamor Hydropower Ltd. (Listed Associate Companies) as on third-quarter end, 2079. The gain has been shown under other reserves as Fair Value Reserve.

    The annualized EPS stands at Rs. 15.46, and the net worth per share at Rs. 213.81, with the company’s P/E standing at 21.80 times.

  • Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public

    Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public


    Citizens Capital Limited has announced the closure of its mutual fund scheme, “Citizens Super 30 Mutual Fund”, to the general public from 20th Baisakh, 2080. The issue was opened on the 6th of Baisakh and was supposed to close on the 10th of Baisakh, 2080. However, as the issue manager didn’t receive enough applications, the issue was extended until the 20th of Baisakh.

    Out of a total of 10 crore unit shares, 1.50 crore units worth Rs. 15 crores have been allocated to the fund promoter, Citizens Bank International Limited, while the remaining 8.5 crore units are for the general public. The fund will be traded in the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants can apply for a minimum of 100 units and a maximum of 10,000,000 units.

    According to the CDSC, a total of 15,683 applicants have applied for 47,295,800 units worth Rs. 47.29 crore so far. This indicates a good response to the scheme, even though the issue was extended due to insufficient applications.

    Citizens Capital Limited currently manages two closed-end funds in the market, Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2). The closure of the Citizens Super 30 Mutual Fund scheme is expected to be beneficial for investors looking to invest in a diversified portfolio and achieve long-term financial goals.

  • Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) lists 16.83 lakh unit bonus shares on NEPSE following 21% dividend approval

    Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) lists 16.83 lakh unit bonus shares on NEPSE following 21% dividend approval


    Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) has listed 16,83,255 unit bonus shares on NEPSE. The decision was made after the company’s 21st Annual General Meeting (AGM) held on 19th Falgun, where a dividend of 21.05% worth Rs. 23.62 crores for the fiscal year 2078/79 was approved. This return was based on the paid-up capital of Rs. 1.12 Arba. The company’s board of directors had proposed a 15% bonus share and a 6.05% cash dividend (including tax) worth Rs. 16.83 crores and Rs. 6.79 crore, respectively, during the 403rd meeting held on Poush 27.

    Following the announcement, the bonus shares of SWBBL were made available for trading on NEPSE. The microfinance company had closed at Rs. 745 as of the previous day’s market close. This decision to distribute bonus shares is expected to benefit the company’s shareholders and attract potential investors. SWBBL’s positive financial performance and its commitment to providing attractive returns to its shareholders are evident in this news.

    SWBBL’s listing of bonus shares on NEPSE is a result of the company’s 21st AGM, where a dividend of 21.05% worth Rs. 23.62 crores was approved. The company’s board of directors proposed a 15% bonus share and a 6.05% cash dividend (including tax) worth Rs. 16.83 crores and Rs. 6.79 crore, respectively. The decision to distribute bonus shares indicates the company’s strong financial performance and its efforts to benefit its shareholders and attract potential investors.