Sonapur Minerals and Oil Limited has received approval from Nepal’s Securities Board (SEBON) to conduct its Initial Public Offering (IPO) on Shrawan 17. They will issue 1,23,200 unit shares at a premium price. The shares will be offered at Rs 225 per share to locals and employees, and at Rs 237.58 per share to the general public. NIMB Ace Capital will be the issue manager for the share offering. The company had applied for permission to conduct the IPO on the 4th of Asoj.
BoK Capital Market will allocate the Initial Public Offering (IPO) of Manakamana Engineering Hydropower on Shrawan 16, 2080. The company offered 8 lakh unit shares to project-affected locals and 2 lakh unit shares to migrant Nepalese workers, as stated in the media release.
The Nepal Chamber of Commerce has expressed concerns to Finance Minister Dr. Prakash Saran Mahat regarding a recent provision by SEBON (Securities Board of Nepal). The provision restricts promoters from selling their stock for a year even after leaving the company’s Board of Directors. The Chamber considers this policy impractical and demotivating for capital mobilization. In a media statement, they have urged the Finance Minister to take quick action to address and resolve this issue.
“Closing Today: Citizen Life Insurance IPO for Nepalese Citizens Abroad. The life insurance company’s IPO offering 11,25,000 unit shares to Nepalese citizens working abroad concludes on the 14th Shrawan. The total issued capital of the company stands at Rs. 3.75 Arba, with 30% of it, equivalent to 1,12,50,000 unit shares, being made available to the public, including Nepalese citizens abroad and the general public. Out of this, 10% (11,25,000 unit shares) is reserved for citizens working abroad, 5% (562,500 units) for the company’s employees, and another 5% (562,500 units) for mutual funds. The remaining 90,00,000 units will be offered to the general public at a later date.”
Bhagawati Hydropower Development Company Limited is wrapping up its IPO for project-affected locals today, the 14th Shrawan. The company issued a total capital of Rs. 57.20 Crores, with 10% (572,065 unit shares) allocated to locals in the Kaski District. Additionally, 15% of the capital (858,097 unit shares) will be offered to the general public later. Out of this, 10% (85,810 unit shares) were set aside for Nepalese citizens working abroad, and their issue closed on the 7th Shrawan, 2080.
NIBL Pragati Fund (NIBLPF), a 7-year closed-end mutual fund scheme, has reported an increase in its Net Asset Value (NAV) for the month of Ashad.
The financial report reveals that the NAV of the mutual fund scheme has risen to Rs. 10.68 at the end of Ashad, 2080, compared to Rs. 10.28 in the previous month. The scheme began with a total fund of Rs. 75 crore and made investments of Rs. 49.40 crore in listed shares and Rs. 14.46 crore in public issues, right shares, and bonus shares. It also holds Rs. 15.35 crores in its bank balance.
Upper Lohore Hydropower Company Limited has announced its plan to issue an Initial Public Offering (IPO) to the general public. The IPO will consist of 19,53,279 unit shares with a face value of Rs 100 each, starting from 18th Shrawan, 2080. The company aims to raise Rs 19.53 crore through this offering. The closing date for the IPO is initially set for the 22nd Shrawan, but it can be extended up to the 32nd Shrawan, 2080, if the issue is not fully subscribed by then.
The current promoter of Kumari Bank Limited (KBL) is offering 240,101 units of shares for auction exclusively to existing promoter shareholders. The auction period starts on 11th Shrawan, 2080, and will last for 35 days from the date of this notice. Eligible shareholders, who are existing promoters, can participate in the bidding process by submitting their bids at the bank’s central office in Naxal, Kathmandu.
In the financial year 2079/80, the Securities Board of Nepal (SEBON) achieved a remarkable milestone by approving initial public offerings (IPOs) worth over 22 billion rupees. This surpasses the previous record set in the financial year 2077/78, when SEBON allowed IPOs worth 15 billion 18 crores. Chairman Ramesh Hamal led the effort, breaking the previous record set during Bhishma Raj Dhungana’s tenure.
Manakamana Engineering Hydropower Limited is wrapping up its Initial Public Offering (IPO) for project-affected locals on the 9th of Shrawan. The IPO, which began on the 19th of Ashad, 2080, allocated 10% of the company’s issued capital, amounting to Rs. 8 Crores, to project-affected locals in Dolakha District. Additionally, there will be a public issue of 25% of the company’s capital, with 200,000 unit shares set aside for Nepalese citizens working abroad. The application period for the shares allocated to Nepalese citizens abroad ended on the 2nd of Shrawan, 2080.
The IPO allotment of Kutheli Bukhari Small Hydropower Limited is scheduled to take place on Sunday, the 7th of Shrawan, 2080. The allotment program will be conducted at the premises of the issue manager, NMB Capital Limited, located in Nagpokhari, Kathmandu, starting at 9 am.
Out of the total 121,867 units offered for the IPO, specific allocations were set aside for various categories. 10% of the shares, i.e., 12,186 units, were issued and allotted to Nepalese citizens working abroad, while 5% of the total offered shares, equivalent to 6,093 units, were reserved for mutual funds. An additional 2%, i.e., 2,437 units, were set aside for the employees of the company. The remaining 101,151 units were offered to the general public. After the IPO issuance, the paid-up capital of the company will increase to Rs. 12.18 Crores, with the intention to raise Rs. 1.01 crore from this offering.
According to data provided by the Central Depository System and Clearing Limited (CDSC), the IPO received an overwhelming response, with approximately 973,353 applications filed for a total of 10,481,890 units till the last day. This indicates that the IPO was oversubscribed by an impressive 103.62 times in terms of the number of units through ordinary applicants as of the closing day.
Considering the data, it becomes evident that only 10,115 fortunate applicants will be selected to become shareholders of the company.
Kutheli Bukhari Small Hydropower Ltd. was initially incorporated on August 11, 2011, as a private limited company and was later converted into a public limited company on January 28, 2015, to facilitate public participation. The company is currently operating a 0.998-Megawatt Suspa Bukhari Khola Small Hydro Power Plant (HPP) in the Dolakha district of Madhesh Province, Nepal. The project follows a run-of-the-river (R-o-R) type approach with a 40% probability of exceedance (Q40). It commenced commercial operations on September 20, 2015, and was developed at a total cost of approximately NPR 248 million.
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.