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  • “Sun Nepal Life Insurance Company Limited Initiates IPO Issue for Nepalese Citizens Working Abroad”

    “Sun Nepal Life Insurance Company Limited Initiates IPO Issue for Nepalese Citizens Working Abroad”


    Sun Nepal Life Insurance Company Limited has commenced the issuance of 9,60,000 unit IPO shares exclusively for Nepalese citizens working abroad, starting from today, 1st Shrawan. The IPO issue will remain open until the 15th Shrawan, 2080.

    The total issued capital of the life insurance company amounts to Rs. 3.2 Arba, of which 30% or 96,00,000 unit shares will be made available to the public, including Nepalese citizens working abroad and the general public. Among the total shares being issued, 10% or 960,000 units have been allocated specifically for Nepalese citizens working abroad. The remaining 86,40,000 units will be issued later to the general public, encompassing employees of the company and mutual funds.

    The IPO shares will be offered at a price of Rs. 239 per share, which includes a premium price of Rs. 139 in addition to the face value of Rs. 100.

    Nepal SBI Merchant Banking has been appointed as the issue manager for the IPO, which aims to raise a total of Rs. 2.22 Arba for Sun Nepal Life Insurance Company Limited. Out of this amount, Rs. 1.26 Arba will be allocated as the premium amount, while the remaining portion will contribute to the company’s paid-up capital.

    Established on August 2, 2017, Sun Nepal Life Insurance Company Limited is a licensed life insurance company authorized by the Insurance Board. The company offers a diverse range of products, including Money Back, Endowment, Whole Life, and Term Assurance products, through its extensive sales network. As of mid-December 2019, the company boasted a branch network of 21 (including the head office), 56 sub-branches, and 15,838 insurance agents.

    In addition, CRNL (Credit Rating Nepal Limited) has assigned a grading of ‘CARE-NP IPO Grade 4’ to the proposed IPO of Sun Nepal Life Insurance Company Limited, indicating below-average fundamentals. The company intends to issue 60 lakh shares with a target of raising Rs. 60 crores through the IPO.

  • “Himalaya Urja Bikas Company’s Right Shares Added to SEBON Pipeline for Preliminary Review”

    “Himalaya Urja Bikas Company’s Right Shares Added to SEBON Pipeline for Preliminary Review”


    The Securities Exchange Board of Nepal (SEBON) has included the right shares of Himalaya Urja Bikas Company (HURJA) in its pipeline, subject to preliminary review. HURJA, a hydropower company, plans to issue 100% right shares valued at Rs. 99 Crores. This will involve the issuance of 9,900,000 (1:1) units of right shares to its existing shareholders. Currently, the company has a paid-up capital of Rs. 99 Crores. Upon the successful adjustment of the proposed right shares, the company’s paid-up capital will rise to Rs. 1.98 Arba.

    To oversee the right share issuance, Nabil Investment Banking Limited has been appointed as the issue manager. The application for the right shares was submitted to the board on Ashad 31, 2080.

    In summary, Himalaya Urja Bikas Company’s right shares have been included in the SEBON pipeline for preliminary review. The company intends to issue 9,900,000 units of right shares worth Rs. 99 Crores to its existing shareholders, which will result in an increased paid-up capital of Rs. 1.98 Arba. Nabil Investment Banking Limited has been entrusted with the responsibility of managing the right share issuance process.

  • Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance

    Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance


    Arun Valley Hydropower Development Company Limited (AHPC) has received the final approval from the Electricity Regulatory Commission to issue right shares to its shareholders at a ratio of 1:1. This decision was made during the Special General Meeting (SGM) held on Ashad 07, where 100% rights shares were endorsed for distribution among the shareholders. The proposal for issuing these right shares was initially put forward during the Board of Directors meeting held on Baisakh 06.

    The approved plan entails issuing a total of 18,679,626 right shares with a par value of Rs. 100 each, amounting to a total value of Rs. 1.86 Arba. Out of this amount, AHPC intends to invest 50% of the issued right shares, equivalent to 9,339,813 unit right shares valued at Rs. 93.39 crore, in the Likhu Khola Hydropower Project (30 MW) developed by PK Hydropower Pvt. Ltd. The remaining 9,339,813 unit shares, also valued at Rs. 93.39 crore, will be utilized to repay the loan obtained by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.

    It should be noted that the issuance of these right shares is subject to the approval of the Securities Board of Nepal (SEBON). AHPC will proceed with issuing the right shares to its shareholders once the necessary approval is obtained. As of the time of writing, AHPC’s Last Traded Price (LTP) stands at Rs. 263.90.

  • Reliable Nepal Life Insurance IPO: 12 Lakh Unit Shares for Nepalese Citizens Working Abroad

    Reliable Nepal Life Insurance IPO: 12 Lakh Unit Shares for Nepalese Citizens Working Abroad


     

    Reliable Nepal Life Insurance Company Limited has initiated the issuance of 12,00,000 units of IPO shares exclusively for Nepalese citizens working abroad. The IPO shares will be available for subscription starting today, July 27th, and the closing date for the issue is August 10th. The company’s total issued capital is Rs. 4 Arba, with 30% of the shares, or 1,20,00,000 units, being offered to the public. Out of this, 10% (12,00,000 units) has been allocated for Nepalese citizens working abroad, 5% (600,000 units) for company employees, and 5% (600,000 units) for mutual funds. The remaining 96,00,000 units will be made available to the general public at a later stage.

     

  • 58,000 Promoter Shares of Janaki Finance Company Up for Auction Today

    58,000 Promoter Shares of Janaki Finance Company Up for Auction Today


     

    Starting from today, the existing promoters of Janaki Finance Company Limited (JFL) are offering 58,000 units of shares for auction to the general public and institutions. Previously, the founder shareholders had announced the auction of these 58,000 units of promoter shares on a different date, but no applications were received. As a result, the shareholders have re-published a notice to auction the same 58,000 units of shares to the general public again, starting from today.

     

  • “Joshi Hydropower Appoints Laxmi Capital as Issue Manager for 65% Right Share Offering”

    “Joshi Hydropower Appoints Laxmi Capital as Issue Manager for 65% Right Share Offering”


    Joshi Hydropower Development Company has chosen Laxmi Capital Market as the issue manager to handle the issuance of its right shares to current shareholders. According to a media statement, the company will be offering shares in a ratio of 1:0.65. During a program, the CEO of the merchant bank, Mr. Rajiv Sapkota, and the chairman of the hydropower company, Mr. Ganga Prasad Joshi, signed a Memorandum of Understanding (MoU) to formalize the agreement.

     

  • Synergy Power Development Company (SPDL) Announces Book Closure Date for 50% Rights Offering

    Synergy Power Development Company (SPDL) Announces Book Closure Date for 50% Rights Offering


    Synergy Power Development Company (SPDL) has announced the book closure date for its 50% right shares, which is set for Shrawan 12, 2080. This means that shareholders who held shares before that date will be eligible for the rights offering.

    The hydropower company plans to issue 50% right shares valued at Rs. 40.32 Crores. This will involve the issuance of 4,032,875 (in a ratio of 1:0.50) units of right shares to its existing shareholders. Currently, the company has a paid-up capital of Rs. 80,65,75,000. Upon the completion of the proposed right share adjustment, the paid-up capital will increase to Rs. 120.98 crores.

  • “Singati Hydro Energy Taps Kumari Capital as Issue Manager for 100% Right Share Offering; 1.45 Crore Unit Shares to be Floated”

    “Singati Hydro Energy Taps Kumari Capital as Issue Manager for 100% Right Share Offering; 1.45 Crore Unit Shares to be Floated”


     

    Singati Hydro Energy has chosen Kumari Capital as the issue manager to handle the issuance of right shares to its existing shareholders. According to the company’s announcement, they plan to float their shares in a 1:1 ratio, totaling 1.45 crore unit shares. The memorandum of understanding (MoU) was signed between Singati Hydro Energy’s Managing Director, Mr. Sudeep Khadka, and Kumari Capital’s Acting CEO, Mr. Puspa Sharma. The funds raised through the right issue will be utilized for the development of the 21.5 MW Sabhakhola B and 6.3 MW Sabhakhola C projects, as well as the 7.5 MW Hewa A San hydropower project, as stated in the media statement.

  • SEBON Approves IPOs for Chirkhwa Hydropower and Mathillo Mailun Khola Jalvidhyut

    SEBON Approves IPOs for Chirkhwa Hydropower and Mathillo Mailun Khola Jalvidhyut


     

    SEBON Approves IPOs for Chirkhwa Hydropower and Bhagwati Hydropower

    The Securities Exchange Board of Nepal (SEBON) has given the green light to the initial public offering (IPO) proposals of Chirkhwa Hydropower Limited and Bhagwati Hydropower Development Company Limited on Ashad 20, 2080. Chirkhwa Hydropower will issue 1,200,000 equity shares at a par value of NPR 100 each, amounting to Rs. 12 Crore, which is 30% of the company’s issued capital. The total paid-up capital for the company will be Rs. 40 crore after the IPO allotment. RBB Merchant Banking Limited has been appointed as the issue manager for the IPO issuance, with the proposal initially submitted on Kartik 17, 2079.

     

  • “SEBON Approves 100% Right Shares Issuance for Upper Tamakoshi Hydropower Limited”

    “SEBON Approves 100% Right Shares Issuance for Upper Tamakoshi Hydropower Limited”


    The Securities Board of Nepal (SEBON) has given its approval for Upper Tamakoshi Hydropower Limited (UPPER) to issue 100% right shares. The company plans to issue shares worth NPR 10.59 Arba, equivalent to 105,900,000 units of right shares on a 1:1 basis to its existing shareholders. The application for this proposal was submitted to SEBON on Falgun 18, 2079.

    Once the proposed right shares are adjusted, the paid-up capital of Upper Tamakoshi Hydropower Limited will increase to NPR 21.18 Arba. Sunrise Capital has been appointed as the issue manager for this process.

    Upper Tamakoshi Hydropower Limited operates the 456-MW Upper Tamakoshi Hydroelectric Project in the Dolkha district of Bagmati Province, Nepal. As of mid-July 2022, the company’s paid-up capital stands at NPR 10,590 million, with 51% held by promoters and 49% held by the public. The project, which is the largest operational project in Nepal, is of the peaking run-of-the-river (PROR) type, with a peaking capacity of four hours, developed at a 32% probability of exceedance (Q32).

  • Ghorahi Cement Industry Resumes IPO Share Issue for General Public

    Ghorahi Cement Industry Resumes IPO Share Issue for General Public


    Ghorahi Cement Industry Limited will be reissuing its IPO shares to the general public. This decision was made after a temporary setback during the initial offering, where some investors applied for shares without having enough funds. The company has conducted a thorough investigation into the matter and has taken transparent and corrective actions. The reissuance of shares aims to provide a fair and transparent opportunity for interested investors to participate in the IPO. The reissuance period will be from the 22nd to the 24th of Ashad, 2080.

     

  • Kumari Bank’s 757,699 Promoter Shares Up for Auction Today

    Kumari Bank’s 757,699 Promoter Shares Up for Auction Today


     

    Kumari Bank Limited (KBL) is conducting an auction to sell 757,699 units of promoter shares to the general public. The auction will take place from the 22nd to the 29th of Ashad, 2080. Individuals, companies, and institutions are all allowed to participate in the auction, with a minimum bid rate of Rs. 110. Bidders must bid for at least 1,000 units of promoter shares and are not allowed to exceed the specified quantity of shares per entity set by the Nepal Rastra Bank.