Tag: been

  • Pokhara Finance, Union Life Insurance Company, and Mahalaxmi Bikas Bank Bonus Shares Listed on NEPSE

    Pokhara Finance, Union Life Insurance Company, and Mahalaxmi Bikas Bank Bonus Shares Listed on NEPSE


    Pokhara Finance Limited (PFL) has launched 4,16,367.92 unit bonus shares on NEPSE.

    On 30th Poush, the business had its 26th AGM and approved a dividend of 4.21% for fiscal year 2078/79. The Board of Directors voted at its 512th meeting to pay a dividend of 4.21% on the paid-up capital of Rs. 1.04 Arba. A 4% bonus dividend of Rs. 4.16 crores was proposed, as well as a 0.21% cash dividend (for tax purposes) worth Rs. 21.85 lakhs. NEPSE now lists the same bonus shares.

    PFL ended yesterday at Rs. 378.50.

    Similarly, Union Life Insurance Company Limited (ULI) has 19,28,550 unit bonus shares listed on NEPSE.

     

  • ICRA Nepal confirms the rating of NIC ASIA Bank’s Rs 3 arba debenture as ICRANP LBBB.

    ICRA Nepal confirms the rating of NIC ASIA Bank’s Rs 3 arba debenture as ICRANP LBBB.


     

    ICRA Nepal Limited has confirmed NIC Asia Bank Limited’s grade. The rating has been removed from the ‘Watch with Negative Implications’ category and moved to the “Issuer Not Cooperating” category, with the following notification for rating withdrawal:

    The rating agency has assessed the bank’s NPR 3,000 million subordinated debenture as [ICRANP] LBBB “Issuer Not Cooperating”; it has been withdrawn from watch with negative implications and moved to the issuer not cooperating category with notice of withdraw

  • For the month of Baishakh, the NBA has decided to reduce interest rates to single digits.

    For the month of Baishakh, the NBA has decided to reduce interest rates to single digits.


     

    According to the Nepal Bankers Association (NBA), the interest rate on fixed deposits would be reduced beginning in the approaching month of Baishakh, 2080. The majority of banks indicated support for decreasing the interest rate at the Bankers’ Association meeting on Wednesday, and the decision was taken to also cut the term interest rate.

    The NBA, the umbrella organization for commercial banks, has resolved to slash interest rates. As a result, it has been agreed to reduce the interest rate on personal deposits by 10%. As a result of this change, the interest rate on fixed deposits has now fallen into the single digits.

     

  • Development banks have decided to lower the interest rate on fixed deposits 

    Development banks have decided to lower the interest rate on fixed deposits 


    During its conference, the Development Bankers Association, an association of Development Bank CEOs, also resolved to drop the interest rate. The committee members have agreed to reduce the deposit interest rate by 1%.

    According to development banks, the interest rate on personal term deposits will now be 10.6 percent rather than 11.6 percent. Similarly, the interest rate on institutional term deposits has been reduced to 8.60 percent. It was also decided to reduce the savings interest rate by 0.60 percentage points. The lower interest rate will take effect on the first

     

  • Molung Hydropower Company and Sagarmatha Jalvidyut Company IPO Shares Listed on NEPSE

    Molung Hydropower Company and Sagarmatha Jalvidyut Company IPO Shares Listed on NEPSE


     

    NEPSE has listed 80,25,000 unit IPO shares of Molung Hydropower Company Limited. This comprises promoter shares as well as shares offered to the general public and project-affected communities.

    The initial transaction range is Rs. 60.62 to Rs. 181.86. If the company executes the agreement with NEPSE, the IPO shares will trade in the secondary market the next day.

     

  • Because of the Liquor Industry’s Boom and Bust Period

    Because of the Liquor Industry’s Boom and Bust Period


     

    Vijay Distillery Private Limited (VDPL), which manufactures liquor brands such as Ruslan Vodka, generated Rs. 2085 million in sales revenue in 2022.

    The company’s revenue has decreased by Rs. 59.3 crores compared to FY 2021. For fiscal year 20/21, the company generated sales revenue of Rs. 2678 crore (Million). VDPL’s profit margin for FY2022 has been tempered by a drop in sales margin, a high debt level, an increase in interest rates amid reduced banking sector liquidity, and an increase in promotional expenses for recently released products.

  • The IPO of Makar Jitumaya Suri Hydropower Company will be completed on Wednesday.

    The IPO of Makar Jitumaya Suri Hydropower Company will be completed on Wednesday.


     

    Makar Jitumaya Suri Hydropower Company Limited’s initial public offering (IPO) will take place this Wednesday, March 29th, 2079. The allotment program will take place at the issue manager’s Kamaladi office, Prabhu Capital Limited.

    From the 19th to the 25th Chaitra, the company issued 13,37,302 units of Rs 100 face value shares to the general public as an Initial Public Offering (IPO) worth Rs 13.37 crore. Out of the total 15,20,000 units, or 20% of the issued capital, 10% or 152,000 units have already been issued and allotted to Nepalese citizens working abroad, while 2%, or 32,028 units, were set aside for the company’s employees, and 5%, or 80,070 units, were set aside for the general public.

  • Himalaya Urja Bikas Company Receives Electricity Regulatory Commission Approval to Issue 100% Right Shares

    Himalaya Urja Bikas Company Receives Electricity Regulatory Commission Approval to Issue 100% Right Shares


     

    Himalaya Urja Bikas Company Limited (HURJA) has been granted permission by the Electricity Regulatory Commission (ERC) to issue rights shares to the general public.

    The Electricity Regulatory Commission (ERC) has approved the distribution of right shares in a 1:1 ratio. The company proposed issuing right shares in a 1:2 ratio, or 200% of the company’s paid-up capital, at the board of directors meeting on Poush 05. The same agenda was approved at the company’s 22nd AGM, but it was subject to ERC approval. However, the board has now approved the issuance of the right shares in a 1:1 or 100% ratio rather than 1:2 or 200%.

     

  • Investors Association Demands SEBON Address Ten Major Issues

    Investors Association Demands SEBON Address Ten Major Issues


     

    The Investors’ Association has focused significant attention on the financial and psychological effects of the stock market on regular investors, which have been steadily declining for a long time.

    Despite the fact that over 55 lakh investors lost a total of nearly Rs. 15 Kharba following the all-time high market capitalization on August 18, 2021, the relevant authorities have remained silent on the subject.

  • Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger

    Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger


     

    The Special General Meeting (SGM) of Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) and Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has been scheduled for 10th Baisakh, 2080. The MMFDB meeting will be held at Hotel Sarathi in Dhulikhel, while the NLBBL meeting will be held at Udhyog Sangathan Morang in Biratnagar. The MMFDB meeting will begin at 12:30 PM that day, while the NLBBL meeting will begin at 11 AM.

  • “Siddhartha Investment Growth Scheme 3” Public Offering

    “Siddhartha Investment Growth Scheme 3” Public Offering


    Siddhartha Capital Limited is launching the closed-end mutual fund scheme “Siddhartha Investment Growth Scheme 3” today, on the 26th Chaitra, and will close on the 29th Chaitra, 2079. If the issue is not fully subscribed by the early closing date, it may be extended until Baisakh 10.

    10%, or 1.2 crore units worth Rs. 12 crores, have been allocated to the fund promoter Siddhartha Bank Limited, while 5%, or 60 lakh units, have been allocated to the fund manager Siddhartha Capital. As a result, the remaining 10.20 crore units will be made available to the gen

     

  • The suspension of a broker license has resulted in the freezing of approximately Rs. 12 Arba in capital.

    The suspension of a broker license has resulted in the freezing of approximately Rs. 12 Arba in capital.


     

    One company applied for a stock dealer license in the previous seven months, while 45 companies applied for stock broker licenses. Nonetheless, all procedures had been halted as a result of the Supreme Court’s directive. Seven months later, the broker license has been suspended, resulting in the freezing of approximately Rs. 12 Arba in capital.

    SEBON’s revised Securities Market Operation Regulations 2064 and Securities Dealers Regulations 2064 begin the process of awarding new licenses. On Ashwin 2, 2079, the Securities Board issued a notice with a 30-day deadline to carry it out. As a result, 45 companies applied for stock broker licenses, while only one company applied for stock dealer license. Throughout the seven months