Tag: fpo

  • 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.

  • 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.

  • Rawa Energy Development Limited closes IPO for project-affected locals in Nepal

    Rawa Energy Development Limited closes IPO for project-affected locals in Nepal


    Rawa Energy Development Limited is a public limited company that was initially incorporated as a private limited company on August 16, 2009. It was later converted into a public limited company on June 28, 2019. The company is engaged in setting up Hydroelectric Projects (HEP) in Nepal, and it is promoted by business persons who have long experience in the hydropower and other sectors.

    The company has a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) located in Khotang District. The project has been in commercial operation since September 20, 2020, and it was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism. The project has been providing power to the national grid and has been contributing to the development of the region.

    Rawa Energy Development Limited is closing the issue of its IPO for project-affected locals today, which was opened on 23rd Chaitra, 2079. The issued capital of the company is Rs. 28 Crores, out of which 10% i.e. 2,80,000 unit shares worth Rs. 2.8 crores have been allocated to project-affected locals of Khotang District. The remaining 20% of the company’s issued capital, i.e., 560,000 unit shares, will be issued later for the general public. Of this public issue, 10% of the shares totaling 56,000 units shares were allocated for Nepalese citizens working abroad, the issue of which closed on 7th Baisakh, 2080.

    The minimum application quantity for project-affected locals is 10 units, while the maximum quantity is 10,000 units. Prabhu Capital Limited has been appointed as the issue manager for the IPO, and the promoter-public share ratio will be 70:30 after this IPO.

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

     

  • IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad

    IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad


    Upper Syange Hydropower Limited is offering shares to project-affected locals of the Lamjung District and Nepalese citizens working abroad. The IPO will be open from 1st Jestha to 16th Jestha, 2080, and if the issue is not subscribed by the early closing date for locals of Lamjung District, it can be extended till the 30th Jestha. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad. The company’s issued capital is Rs. 22 Crores, and 10% i.e. 2,20,000 unit shares worth Rs. 2.2 crores have been allocated to project-affected locals of Lamjung District.

    29.55% of the company’s issued capital i.e. 650,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 65,000 units shares have been allocated for Nepalese citizens working abroad. The minimum application quantity for the project-affected locals is 10 units, while the maximum quantity is 100,000 units. Meanwhile, for Nepalese citizens working abroad, the minimum application quantity is 10 units, while the maximum quantity is 50,000 units.

    Siddhartha Capital Limited is the issue manager, and the promoter-public share ratio will be 60.45: 39.55 after this IPO. The issuer rating of Upper Syange Hydropower Limited has been reaffirmed as ‘CARE-NP BB (Is)’ by CARE Ratings Nepal Limited (CRNL), indicating a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

    Upper Syange Hydropower is a Public Limited company that is setting up a 2.4 MW Run-of-River (RoR), Upper Syange Hydropower Project (USHP) in BOOT (Build, own, Operate, and Transfer) mechanism. It was incorporated on January 26, 2009, as Upper Syange Hydropower Private Limited and converted to Public limited on March 30, 2017. The project is located in the Lamjung district of Nepal and is promoted by both individual and institutional promoters from different backgrounds.

  • 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.

  • Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public

    Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public


    Modi Energy Limited has started offering 55,59,420 unit IPO shares with a face value of Rs 100 to the public, aiming to raise Rs 55.59 crore. The IPO will close on the 24th of Baisakh, and it can be extended up to the 2nd of Jestha, 2080, if it is not fully subscribed. The company had previously issued 29,00,000 unit shares worth Rs. 29 crores to project-affected locals of Parbat District, and the remaining 20,95,610 units of unsubscribed shares are added to 43,50,000 units reserved for the general public. A total of 64,45,610 units are for the general public. Sunrise Capital Limited is the issue manager for the IPO, and applications can be made for a minimum of 10 units and a maximum of 100,000 units. Modi Energy Limited has been promoted by institutional promoters and individual businessmen, and the Hydroelectric Project of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project, is being constructed under the “BOOT” model in the Parbat district of Nepal.

  • Aatmanirbhar Laghubitta reports a decline in Q3 net profit by 27.64%

    Aatmanirbhar Laghubitta reports a decline in Q3 net profit by 27.64%


    Aatmanirbhar Laghubitta Bittiya Sanstha Limited (AATMA) has reported a 27.64% decrease in net profit for Q3 of FY 2079/2080 compared to the same quarter of the previous fiscal year, according to its unaudited financial report. The company’s net profit declined to Rs. 4.46 crores from Rs. 6.1 crores in the corresponding quarter of the previous year. The decline in net profit is due to a decrease in net interest income by 17.19% and an increase in impairment charges by 437.70%, which caused the operating profit to decrease by 43.09%. AATMA’s borrowing stands at Rs. 8.53 Arba, while its loans declined by 11.38% to Rs. 1.27 Arba. The company recently issued an IPO of 1,69,755 units worth Rs. 1.69 crore to the public.

  • NIBL Ace Capital inks IPO Roadmap with Alliance Pharmaceuticals.

    NIBL Ace Capital inks IPO Roadmap with Alliance Pharmaceuticals.


    NIBL Ace Capital Limited has signed a Roadmap for an IPO agreement with Alliance Pharmaceuticals Pvt. Ltd. as part of its business consulting service.

    The agreement was signed in the presence of Mr. Sunil Pradhan, Managing Director of Alliance Pharmaceuticals Pvt. Ltd., and Mr. Bhuwan Raj Panta, Head of Corporate Advisory Service of NIBL Ace Capital Limited by Mr. Sachindra Dhungana, Deputy General Manager of NIBL Ace Capital Limited, and Mr. Manohar Das Mool, Chairman of Alliance Pharmaceuticals P

     

  • SEBON Approves Upper Syange Hydropower IPO Proposal

    SEBON Approves Upper Syange Hydropower IPO Proposal


     

    The Securities Exchange Board of Nepal (SEBON) has authorized Upper Syange Hydropower Limited’s proposed initial public offering (IPO) on Baisakh 13, 2080.

    The corporation will now issue 870,000 equity shares at NPR 100 per share. The issuance is worth Rs. 8.7 crore. This is equivalent to 39.55% of the company’s issued capital. The company’s total paid-up capital following the IPO allotment will be Rs 22 crores.

     

  • Losses for Laxmi Capital Market Mutual Fund Schemes in Chaitra Reduce; SLK’s NAV Maintains At 9.67

    Losses for Laxmi Capital Market Mutual Fund Schemes in Chaitra Reduce; SLK’s NAV Maintains At 9.67


    Laxmi Equity Fund (LEMF), a closed-end 7-year equity-oriented mutual fund scheme administered by Laxmi Capital Market Limited, showed a modest increase in NAV to Rs. 10.03 at the end of Chaitra from Rs. 9.93 the previous month.

    The plan started with a fund amount of Rs. 1.25 crore. Arba has invested Rs. 77.67 crores in publicly traded shares of several firms.

    LEMF has invested Rs. 15.36 lakh in IPOs and Rs. 5.41 crore in bonds/debentures. This mutual fund has Rs. 13.5 crores in fixed deposits and a bank balance of Rs. 27.78 crores.

    It declared a net loss of Rs. 20.17 crores until the end of Chaitra. The previous month’s loss was Rs. 21.36 crores.

  • Menchhiyam Hydropower IPO Allotment Concludes: Lucky 95,411 Applicants Gets 10 Units Each Whereas Staff Quota Undersubscribed

    Menchhiyam Hydropower IPO Allotment Concludes: Lucky 95,411 Applicants Gets 10 Units Each Whereas Staff Quota Undersubscribed


    Menchhiyam Hydropower Limited’s initial public offering (IPO) was completed today at the Lainchaur Banquet in Kathmandu. The issue manager for this IPO was NIC Asia Capital.
    Menchhiyam Hydropower Limited released 934,915 units worth Rs 9.34 crores to the general public as an Initial Public Offering (IPO) (Baisakh 4- 7, 2080).

    Previously, the business granted 542,583 unit shares worth Rs. 5.42 crores to project-affected Sankhuwasabha District residents, of which only 505,780 were given to legitimate applicants. As a result, the remaining 36,803 unsubscribed shares of project-affected locals are added to the 10,85,167 units (20% of the issued capital designated for the general public) to produce a total of 11,21,970 units for the general public.

  • SEBON has finally approved Nepal Republic Media’s IPO proposal.

    SEBON has finally approved Nepal Republic Media’s IPO proposal.


    The Securities Exchange Board of Nepal (SEBON) has authorized Nepal Republic Media Limited’s proposed initial public offering (IPO) on Baisakh 11.

    The corporation will now issue 4,353,000 equity shares at NPR 100 per share. The issuance is worth Rs. 43.53 crore. This represents 44.99% of the outstanding capital of the corporation. The company’s total paid-up capital following the IPO allotment will be Rs 96.75 crores.

    Mega Capital Markets Limited has been designated as the planned IPO’s issue manager.

    Nepal Republic Media Pvt. Ltd., the publisher of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is the first media company to become public.