Tag: Concludes

  • Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public

    Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public


    The IPO allotment of Ghorahi Cement Industry Limited took place at the premises of Nabil Investment Banking Limited in Naxal, Kathmandu. The company had initially issued 69,11,670 units of IPO shares at a price of Rs. 435 per unit (including a premium of Rs. 335) to the general public on Jestha 32, 2079.

    However, the IPO faced a temporary setback when the issue was paused due to investors applying for shares without having sufficient funds. After conducting a thorough investigation, the company took transparent and corrective measures. As a result, Ghorahi Cement Industry Limited has decided to re-issue the 69,11,670 units of IPO shares to the general public from the 22nd to the 25th of Ashad, 2080.

    The company has a total issued capital of Rs. 3.97 Arba, out of which 20% (79,43,801 unit shares) was set aside for the public, including locals, Nepalese citizens working abroad, and the general public. Additionally, 1% (397,190 unit shares) were issued to project-affected locals of Dang District, and 7,54,661 unit shares were issued to Nepalese citizens working abroad starting from 18th Baisakh.

    Out of the shares issued to project-affected locals, only 77,290 shares were allotted to valid applicants. The public issue for Nepalese migrant workers was undersubscribed by 19.65% or 148,311 units. Consequently, the unsubscribed shares were added to the shares reserved for the general public.

    According to the offer letter, out of the total issued capital, 79,43,801 unit shares (20%) were allotted to the project-affected locals, 606,350 units were allotted to Nepalese citizens working abroad, 328,961 units were set aside for mutual funds, and 19,530 units were reserved for the company’s employees. The remaining shares, after all previous allotments and reservations, amount to a total of 69,11,670 units and are available for the general public.

    The IPO received applications from 5,57,701 valid applicants, who applied for a total of 77,93,710 units, resulting in oversubscription by more than 1.12 times.

    In summary, Ghorahi Cement Industry Limited concluded its IPO allotment and has decided to reissue the shares to the general public. The company faced initial challenges due to insufficient funds from investors but has taken corrective measures. The IPO received significant interest from valid applicants, oversubscribing the issue.

  • “Ankhukhola Hydropower Approves 150% Right Shares at 15th AGM”

    “Ankhukhola Hydropower Approves 150% Right Shares at 15th AGM”


     

    During its 15th Annual General Meeting, Ankhukhola Hydropower approved a 150% increase in right shares for its current shareholders. The funds raised through these shares will be invested in the development of the 20 MW Ankhukhola Hydropower 2 project, which is currently being promoted by Ganesh Himal Hydropower Company. The company plans to allocate 60% of the funds to the Ankhukhola 2 project and utilize the remaining amount to repay its outstanding loans, according to a media statement.

  • “NEPSE Starts the Week Strong with 1.38% Gain; All Sectors Close in the Green”

    “NEPSE Starts the Week Strong with 1.38% Gain; All Sectors Close in the Green”


     

    Today, the NEPSE index had a positive trading session, closing at 2,077.76. It gained 28.38 points, representing a 1.38% increase compared to the previous trading day. On Thursday, the index experienced a small loss of 0.06 points.

    The day started with the index opening at 2,050.36 and reaching a low of 2,049.69. However, it later climbed to a high of 2,085.23 before settling at the closing value of 2,077.76.

    During the trading session, a total of 287 scrips were traded through 73,446 transactions. The total shares exchanged amounted to 8,352,576, with a turnover of Rs. 3.04 Arba. Although the turnover was slightly lower than the previous trading day’s Rs. 3.07 Crores, it was still a significant amount.

  • Upper Syange Hydropower IPO Allotment: 11,44,127 Applicants Return Empty-Handed

    Upper Syange Hydropower IPO Allotment: 11,44,127 Applicants Return Empty-Handed


     

    Upper Syange Hydropower Concludes IPO Allotment; Shares Issued to General Public

    The IPO allotment process for Upper Syange Hydropower Limited has been completed at the premises of Siddhartha Capital Limited in Kathmandu. The company had previously offered 539,500 units of IPO shares with a face value of Rs 100 to the general public from the 10th to the 13th of Ashad, 2080. Additionally, 2,20,000 shares were issued to project-affected locals in Lamjung District, and 65,000 shares were allocated to Nepalese citizens working abroad. As a result of the IPO, the promoter-public share ratio will be adjusted to 60.45:39.55.

  • NEPSE Closes with 0.61% Gain, All Sectors Green

    NEPSE Closes with 0.61% Gain, All Sectors Green


     

    Today, the NEPSE index, which measures the performance of the Nepalese stock market, closed at 2,088.70 points. It gained 12.73 points compared to the previous trading day, resulting in a 0.61% increase. Yesterday, the index had experienced a loss of 21.32 points.

    The trading day started with an opening index value of 2,079.42. Throughout the day, the index reached its highest point at 2,104.38 and its lowest point at 2,067.22 before settling at 2,088.70 at the end of trading.

    A total of 282 different scrips were traded, and there were 46,731 transactions. In terms of shares, a total of 6,450,934 were exchanged, equivalent to a turnover of Rs. 2.57 Arba. However, this turnover amount is lower than the previous trading day’s turnover of Rs. 4.05 Arba.

     

  • NEPSE Weekly Summary: 4.64% Gain, Rs 23.25 Arba Turnover, Technical Analysis & More

    NEPSE Weekly Summary: 4.64% Gain, Rs 23.25 Arba Turnover, Technical Analysis & More


     

    Last week, the Nepal Stock Exchange (NEPSE) traded for only four days due to the Bakrid holiday on Thursday. The week ended with the NEPSE index closing at 2,150.99, marking a gain of 95.46 points or 4.64%. In the previous week, the index closed at 2,055.53, experiencing a 0.66% gain compared to the week before. Throughout the week, the index reached a high of 2,204.93 and a low of 2,057.37, showing a volatility of 147.56 points. The previous week had a lower volatility of 78.65 points.

     

  • Nepal Republic Media IPO Allotment: 361,989 Applicants Receive 10 Units Each, Staff/Mutual Fund Quota Undersubscribed

    Nepal Republic Media IPO Allotment: 361,989 Applicants Receive 10 Units Each, Staff/Mutual Fund Quota Undersubscribed


    The IPO allotment of Nepal Republic Media Limited has been completed today at Hotel Aloft in Chhaya Center, Thamel, Kathmandu. Nepal Republic Media Limited had issued 35,25,930 units worth Rs 35.25 crores as an IPO for the general public from Jestha 26-30, 2080.

     

  • “Nepal Republic Media IPO Allotment Concludes: 352,593 Applicants Receive 10 Units Each”

    “Nepal Republic Media IPO Allotment Concludes: 352,593 Applicants Receive 10 Units Each”


     

    Nepal Republic Media Limited is conducting its IPO allotment on Monday, 11th Ashad, 2080. The allotment program will be held at Mega Capital Markets Limited in Kamaladi, Kathmandu, at 4 pm.

    The company has issued a total capital of Rs. 96.75 crores. Out of this, 43,53,000 unit shares worth Rs. 43.53 crores were reserved for the general public, which accounts for 44.99% of the issued capital. Among the shares allocated to the public, 10% (4,35,300 units) were offered to Nepalese citizens working abroad, 4% (174,120 units) were set aside for the company’s employees, and 5% (217,650 units) were allocated to mutual funds. The remaining 35,25,930 units were made available to the general public.

     

  • Nepse Index Surges by 5.28% This Week, Reaching 2,042.07

    Nepse Index Surges by 5.28% This Week, Reaching 2,042.07


    The Nepse index experienced significant growth this week, closing at 2,042.07 points, a gain of 102.46 points or 5.28%. Last week, the index closed at 1,939.61 points, showing a 3.93% increase from the previous week.

    Throughout the week, the index demonstrated volatility, reaching a high of 2,066.99 points and a low of 1,941.76 points. This indicates a fluctuation of 125.23 points, compared to 84.84 points in the previous week. Technical analysis suggests a bullish trend in both the short-term and mid-term.

    The highest intraday gain occurred on Sunday, with a remarkable increase of 40.48 points and a turnover of Rs 3.45 Arba. The total turnover for the week amounted to Rs 18.64 Arba.

  • Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance

    Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance


    Nepal Republic Media Limited, the publication house behind Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is closing the issuance of its Initial Public Offering (IPO) today, on Jestha 30, 2080. The IPO opened on Jestha 26, 2080.

    The company has an issued capital of Rs. 96.75 crores, out of which 44.99% or 43,53,000 unit shares worth Rs. 43.53 crores have been allocated to the general public. Among these shares, 10% (4,35,300 units) were specifically issued to Nepalese citizens working abroad, while 4% (174,120 units) have been reserved for the employees of the company. Additionally, 5% (217,650 units) of the total shares on offer have been set aside for mutual funds. The remaining 35,25,930 units are available for the general public.

    Mega Capital Markets has been appointed as the issue manager for this IPO issuance. The minimum application quantity allowed for both the general public and Nepalese citizens working abroad is 10 units, while the maximum quantity is set at 500 units.

    According to the Central Depository System and Clearing Limited (CDSC), a total of 983,200 applicants have applied for a combined total of 10,743,740 units as of yesterday evening. This indicates that the IPO has been oversubscribed by a factor of 2.96 times so far.

    Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned Nepal Republic Media Limited an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. This rating suggests a higher risk of default in terms of timely financial obligations.

    Nepal Republic Media Limited, incorporated in August 2008 as New Republic Media Private Ltd and later converted to Nepal Republic Media Ltd in June 2021, is the first media sector company to issue an IPO to the general public. The company, founded by Mr. Binod Raj Gyawali, aims to disseminate news through its various publications.

  • Rawa Energy Development Limited IPO Allotment and Project Details

    Rawa Energy Development Limited IPO Allotment and Project Details


    The IPO allotment process of Rawa Energy Development Limited, a hydropower company, has been completed at the premises of Prabhu Capital Limited in Kathmandu. The company issued 6,43,667 units worth Rs. 6.43 crores as an Initial Public Offering (IPO) to the general public between Jestha 18 and 22, 2080.

    Prior to the IPO, 2,80,000 units worth Rs. 2.8 crores were allocated to project-affected locals of Khotang District. However, only 31.2% of the applicants were allotted shares, leaving 192,330 unsubscribed units. These shares were combined with 560,000 units (20% of the issued capital reserved for the general public), resulting in a total of 752,330 units available for the general public.

    Among the 752,330 units, 56,000 units were issued to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated to company employees. The remaining 643,667 units were offered to the general public.

    The IPO received an overwhelming response, with 10,77,740 valid applicants applying for a total of 11,564,590 units, resulting in an oversubscription rate of over 17.96 times. Through a lottery system, 64,366 applicants were allotted 10 units each, while seven lucky applicants received an additional unit. Unfortunately, the remaining 10,13,374 applicants were not allotted any shares.

    Additionally, 37,616 units were allotted to mutual funds, and 15,047 units were allocated to company employees. However, 1,07,466 applicants, who had applied for 14,21,800 units, were disqualified by CASBA members due to reasons such as duplicate applications for the local issue and foreign employment.

    CARE Ratings Nepal Limited (CRNL) has assigned Rawa Energy Development Limited an issuer rating of ‘CARE-NP BB (Is)’, indicating a moderate risk of default in terms of timely financial obligations in Nepal.

    Rawa Energy Development Ltd, initially incorporated as a private limited company on August 16, 2009, and later converted to a public limited company on June 28, 2019, is promoted by experienced individuals in the hydropower and other sectors. They have successfully operated the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District since September 20, 2020. The project was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

     

  • Rawa Energy Development Limited Concludes IPO of 643,667 Unit Shares

    Rawa Energy Development Limited Concludes IPO of 643,667 Unit Shares


    Rawa Energy Development Limited has announced the closure of its Initial Public Offering (IPO) for the issuance of 643,667 unit shares with a face value of Rs. 100 per share. The IPO was opened on 18th Jestha, 2080 and will conclude on 22nd Jestha, 2080.

    Previously, the company had allocated 2,80,000 unit shares worth Rs. 2.8 crores to the project-affected locals of Khotang District. However, only 87,370 units were allotted to valid applicants, leaving 192,330 units unsubscribed. These unsubscribed shares, along with 560,000 units (20% of the issued capital reserved for the general public), make up a total of 752,330 units available for the general public.

    Out of the total 752,330 units, 56,000 units have been issued and allotted to Nepalese citizens working abroad, 37,616 units have been set aside for mutual funds, and 15,047 units have been reserved for employees of the company. The remaining 643,667 units are available for the general public.

    The company aims to raise Rs. 6.43 crore through this IPO. Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance, and interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.

    As of yesterday evening, the issue has already received a significant oversubscription. According to CDSC, a total of 869,645 applicants have applied for 95,86,400 units, indicating an oversubscription of 14.89 times.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating signifies a moderate risk of default in the timely servicing of financial obligations in Nepal.

    Rawa Energy Development Ltd, incorporated on August 16, 2009, as a private limited company and later converted to a public limited company on June 28, 2019, is promoted by individuals with extensive experience in the hydropower and other sectors. The company operates the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District, which has been in commercial operation since September 20, 2020. The project follows the BOOT (Build, Own, Operate, and Transfer) mechanism.