Tag: Deadline

  • NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications

    NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications


    NIMB Ace Capital Limited has decided to extend the deadline for the “NIBL Stable Fund” mutual fund scheme to the general public and institutions until the 16th of Magh, 2080. Originally set to close on the 5th Magh, 2080, the extension was prompted by the scheme’s insufficient applications. Out of a total of 10 crore unit shares, 1% (10 lakh units worth Rs. 1 crore) has been allocated to the scheme manager NIMB Ace Capital Limited, 14% (1.4 crore units worth Rs. 14 crore) to the fund sponsor Nepal Investment Mega Bank Limited, and the remaining 8.5 crore units worth Rs. 85 crore are open for subscription from the general public. The “NIBL Stable Fund” operates as a closed-end fund, allowing applicants to apply for a minimum of 100 units and a maximum of 1,00,00,000 units.

    As per the information from the Central Depository System and Clearing Limited (CDSC), the scheme has received applications from 20,264 individuals, amounting to 2,38,16,750 units worth Rs. 23.81 Crore, as of 5 pm yesterday. Currently, “NIBL Mutual Fund” operates four closed-end schemes – “NIBL Pragati Fund,” “NIBL Samriddhi Fund-II,” “NIBL Growth Fund,” and “Mega Mutual Fund 1” – along with one open-ended Mutual Fund Scheme, “NIBL Sahabhagita Fund.” The first scheme under NIBL Mutual Fund, NIBL Samriddhi Fund-I, has successfully completed its operation after 7 years, distributing total cash dividends of 98.50% to unit-holders, equivalent to an approximately 18% effective rate per annum. Notably, NIBL Mutual Fund has introduced the first-ever open-ended mutual fund scheme in Nepal, “NIBL Sahabhagita Fund,” following the Mutual Fund Regulation 2067.

  • IPO Deadline Extension for Himalayan

    IPO Deadline Extension for Himalayan


    [https://www.sharesansar.com/newsdetail/deadline-extended-for-249-crores-ipo-unit-shares-of-himalayan-reinsurance-issue-subscribed-by-8392-so-far-2023-12-17](https://www.sharesansar.com/newsdetail/deadline-extended-for-249-crores-ipo-unit-shares-of-himalayan-reinsurance-issue-subscribed-by-8392-so-far-2023-12-17)

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    So the deadline has been extended. I think this means

    1. More people will apply so my hopes of getting those 30s and 40s look unlikely
    2. How does this end is it till the 11th that this goes on or does the below point mean it closes earlier

    https://preview.redd.it/xtqklo2hps6c1.png?width=933&format=png&auto=webp&s=a1d40027ac6b1524896af47a84fcdf939471f21b

    3. Can I wait for like 3-4 days see the application and then make a reasonable call to apply 20s or 30s?

    (I don’t have a lot of money and thus don’t want it all to be stuck)

    https://preview.redd.it/nlj4s3typs6c1.png?width=1495&format=png&auto=webp&s=8f37dbfc5b16a37a7fa1d68f8a7f42a7dda770bb

    ​

    https://preview.redd.it/eb93js00qs6c1.png?width=400&format=png&auto=webp&s=2152a677ed21f880c03c21130ef5f7c893f8315e

    View on r/NepalStock by TheGreatestNepali

  • Large Taxpayer Office Reports Record Profit Tax Collection of Rs. 12.5 Arba from Mergers, Acquisitions, and FPOs

    Large Taxpayer Office Reports Record Profit Tax Collection of Rs. 12.5 Arba from Mergers, Acquisitions, and FPOs


    The Large Taxpayer Office has reported the successful collection of Rs. 12.5 Arba in profit tax, derived from mergers, gains from acquisitions, and profits generated from Follow-On Public Offerings (FPOs). This significant amount was gathered on Friday and Saturday through detailed filings by numerous organizations. On Friday, 30 organizations contributed to this sum, filing taxes amounting to Rs. 11.3 Arba, with an additional 11 institutions filing taxes on Saturday, totaling Rs. 1.44 Arba. Mr. Janak Sharma, the head of the Large Taxpayer Office, commended both public and private entities for their proactive engagement in meeting their tax obligations.

    It was disclosed that among the 41 organizations paying taxes on profits from FPO, 14 also paid taxes on profits from both FPO and bargain purchases resulting from mergers and acquisitions. This tax collection falls under the current financial year, representing a substantial boost in revenue.

    This initiative was prompted by persistent recommendations from the Office of the Auditor General, raising concerns about tax evasion related to FPO premiums, gains from bargain purchases in mergers and acquisitions, and auction share sales. The Ministry of Finance and the Inland Revenue Department initially overlooked these concerns but took action following the 60th report of the Office, emphasizing the recovery of revenues from these sources.

    In response, Finance Minister Dr. Prakash Sharan Mahat introduced an arrangement to encourage timely payment of revenues. Companies paying taxes on FPO premiums, bargain purchase gains, and auction share sales by the end of Mangsir would be exempted from fines and interests. Despite legal scrutiny, the constitutional bench of the Supreme Court recently dismissed a petition filed by 16 Banking and Financial Institutions (BFIs), upholding the government’s position that the taxation did not constitute a levy on capital.

    The BFIs were given a deadline to deposit the specified amount by the end of Mangsir, and companies proactively met this deadline, contributing significantly to the substantial revenue collection observed over the weekend. The detailed breakdown of tax payments by various BFIs under different titles is provided, with a total of Rs. 7 Arba 97 Crores 87 lakhs remitted under FPO and Rs. 4 Arba 49 Crores 81 Lakhs for benefit of Bargain Purchases.

  • Deadline Extended for ‘10% Citizens Bank Debenture 2090’ to Kartik 01

    Deadline Extended for ‘10% Citizens Bank Debenture 2090’ to Kartik 01


    Citizens Bank International Limited (CZBIL) has decided to extend the deadline for the issuance of 30,00,000 units of their “10% Citizens Bank Debenture 2090” to the general public and institutions until the 1st of Kartik, 2080.

    These debentures have a maturity period of 10 years and offer a 10% coupon rate. The application period for these debentures started on the 17th of Ashwin, 2080.

    A total of 30 lakh units are being issued at a par value of Rs. 1000 per unit. Out of these, 60% (18 lakh units) are being subscribed through private placement, while the remaining 12 lakh units, valued at Rs. 1.2 Arba, are available for public subscription. Additionally, 5% of this public issue is reserved for mutual funds. This issuance is expected to raise a total of Rs. 3 Arba.

     

  • Deadline Extended for 97.32 Lakh IPO Shares of Sonapur Minerals and Oil as Issue Garners 1.05 Times Oversubscription

    Deadline Extended for 97.32 Lakh IPO Shares of Sonapur Minerals and Oil as Issue Garners 1.05 Times Oversubscription


    Sonapur Minerals and Oil Limited is extending a golden opportunity for investors by extending the deadline for its IPO shares issuance until the 28th of Ashwin, 2080. This IPO, which initially opened on the 14th of Ashwin, garnered tremendous interest, prompting the company to prolong the offering. Notably, Sonapur Minerals and Oil Limited had already allocated 15,37,525 unit shares to project-affected locals in Dang and Rolpa District, with 1,34,520 units assigned to eligible applicants. With the remaining 14,03,005 units now added to the pool, alongside 1,07,62,675 units (equivalent to 35% of the issued capital) reserved for the general public, a total of 12,165,680 units are up for grabs. This presents an exciting opportunity for potential investors to become part of a promising venture and secure their stake in Sonapur Minerals and Oil Limited.

     

  • Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering

    Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering


    Upper Tamakoshi Hydropower Limited has made the decision to extend the deadline for its rights offering. The company originally initiated its rights offering on the 18th of Bhadra, 2080, with the intention of closing the offering on the 7th of Ashwin. However, as per an official notice, the rights offering period has been extended, and it will now conclude on the 22nd of Ashwin, 2080.

    This rights offering involves Upper Tamakoshi Hydropower issuing 100% right shares, totaling Rs. 10.59 Arba, through the issuance of 105,900,000 units of right shares to its existing shareholders. Following the adjustment for the proposed right shares, the company’s paid-up capital will see a substantial increase, reaching Rs. 21.18 Arba.

    Sunrise Capital Limited has been appointed as the issue manager responsible for overseeing this rights issue, ensuring its smooth execution and adherence to regulatory procedures.

    The book closure date for this rights offering had initially been set for the 26th of Shrawan, 2080. Consequently, shareholders who have maintained their holdings until this specified date will be considered eligible to participate in the rights offering, allowing them the opportunity to subscribe to additional shares in the company.

  • “Deadline Extended for 1:0.50 Rights Offering by Synergy Power Development”

    “Deadline Extended for 1:0.50 Rights Offering by Synergy Power Development”


    Synergy Power Development Limited (SPDL) has decided to extend the deadline for its rights offering. The rights offering commenced on the 3rd of Bhadra, 2080, and was initially set to conclude on the 24th of Bhadra. However, the company has now extended the deadline to the 31st of Bhadra, 2080.

    In this rights offering, SPDL is issuing 50% right shares, valued at Rs. 40.32 Crores, by issuing 4,032,875 units of right shares to its existing shareholders. Currently, the company’s paid-up capital stands at Rs. 80,65,75,000. Following the adjustment of the proposed right shares, the paid-up capital of the company will increase to Rs. 120.98 crores.

    Sanima Capital Limited has been appointed as the issue manager for this right share offering.

    Earlier, SPDL had announced the book closure date for the rights offering, which was Shrawan 12. Shareholders who held shares before that date are eligible to apply for the rights offering.

     

  • “Deadline Extended for ‘9% Nepal SBI Bank Debenture 2089’; New Closing Date Set for Shrawan 31”

    “Deadline Extended for ‘9% Nepal SBI Bank Debenture 2089’; New Closing Date Set for Shrawan 31”


     

    Nepal SBI Bank Limited (SBI) has decided to extend the public offering period for the “9% Nepal SBI Bank Debenture 2089.” The initial opening of the offering took place on the 18th of Shrawan, 2080, and the original closing date was today, the 22nd of Shrawan. As the offering has not garnered complete subscription, the deadline has now been pushed back to the 31st of Shrawan.

    In this offering, a total of 20 lakh units are up for grabs, each priced at Rs. 1000. Among these, 12 lakh units (60% of the total) will be allocated through private placement, while the remaining 8 lakh units, valued at Rs. 80 Crores, are available for public subscription. Of this public portion, 5% is set aside for mutual funds. The issuance aims to raise a total of Rs. 2 Arba.

  • “Mathillo Mailung Khola Jalbidhyut IPO Closing Today for Overseas Nepali Employees; Local Deadline Extended till Shrawan 18”

    “Mathillo Mailung Khola Jalbidhyut IPO Closing Today for Overseas Nepali Employees; Local Deadline Extended till Shrawan 18”


     

    Mathillo Mailung Khola Jalbidhyut Limited is ending the IPO application for Nepalese citizens working abroad today, which started on 18th Shrawan, 2080. However, the deadline for project-affected locals in Rasuwa and Nuwakot Districts has been extended until 1st Bhadra. The company has a total issued capital of Rs. 1 Arba, with 10% allocated to project-affected locals in Kaski District and 15% reserved for the general public. Out of the public issue, 10% of shares, totaling 150,000 units, have been set aside for Nepalese citizens working abroad, with the application closing today.

     

  • “Laxmi Capital Market Extends Deadline for “Laxmi Value Fund II” Mutual Fund Scheme to Shrawan 19.”

    “Laxmi Capital Market Extends Deadline for “Laxmi Value Fund II” Mutual Fund Scheme to Shrawan 19.”


     

    Laxmi Capital Market Limited has decided to extend the deadline for their mutual fund scheme “Laxmi Value Fund-II” until the 19th of Shrawan. Initially, the issue was open from the 5th to the 9th of Shrawan, 2080, but due to a lack of sufficient applications, they have extended the closing date. The scheme offers 8 crore unit shares at a par value of Rs 10 per share, with 15% (1.20 crore units worth Rs. 12 crore) reserved for the fund sponsor Former Laxmi Bank Limited, and the remaining 6.80 crore units will be available to the general public from the 5th of Shrawan.

  • “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”

    “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”


    Upper Lohore Hydropower Company Limited has provided updates regarding its initial public offering (IPO) of shares. The IPO is now closed to Nepalese citizens working abroad as of the 21st of Ashad, 2080. However, the deadline for project-affected locals in the Dailekh District has been extended until the 5th of Shrawan. The IPO process started on the 7th of Ashad, 2080.

    The company’s issued capital is Rs. 50.98 Crores, with 10% of the shares, worth Rs. 5.09 crores, allocated to project-affected locals in Dailekh District. Another 39% of the company’s issued capital, equivalent to 19,88,236 units, will be offered to the general public at a later date. Within the public issue, 10% of the shares, totaling 198,824 units, are reserved for Nepalese citizens working abroad, and the closing date for their participation is today.

    The minimum application quantity for both project-affected locals and Nepalese citizens working abroad is 10 units, while the maximum is 25,000 units.

    NIC Asia Capital Limited is the appointed issue manager, and after the IPO, the promoter-public share ratio will be 51:49.

    According to the Central Depository System and Clearing Limited (CDSC), 23,846 applications have been received from Nepalese citizens working abroad, with a total of 585,570 units applied for so far.

    The Upper Lohore Hydropower Company Limited has been assigned a ‘CARE-NP BB- (Is)’ rating by Credit Rating Nepal Limited (CRNL), indicating a moderate risk of default regarding financial obligations in Nepal.

    Established as a private limited company on November 10, 2017, the Upper Lohore Hydropower Company Limited has since become a public limited company. The company’s main focus is the development of the Upper Lohore Hydropower Project in the Dailekh district, with a capacity of 4MW as a run-of-the-river type project.

  • Deadline for Samudayik Laghubitta Dividend Proposal.

    Deadline for Samudayik Laghubitta Dividend Proposal.


     

    Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) has announced that today is the final day to avail the dividend they have proposed. The company has scheduled its 9th Annual General Meeting (AGM) on the 22nd of Ashad, 2080. The AGM will take place at The Dhulikhel Lodge Resort in Dhulikhel, Kavrepalanchowk, starting from 11 AM. One of the important matters to be addressed during the meeting is the endorsement of a 15% dividend for the fiscal year 2078/79. The board of directors has decided to distribute this dividend on the paid-up capital of Rs. 13.20 Crores. They have proposed 10% bonus shares worth Rs. 1.32 crores and a 5% cash dividend amounting to Rs. 66 lakhs.