Tag: fpo

  • Upper Syange Hydropower Limited Announces IPO for General Public

    Upper Syange Hydropower Limited Announces IPO for General Public


    Upper Syange Hydropower Limited has released its offer letter, signaling its intention to issue an Initial Public Offering (IPO) to the general public. The company plans to issue 539,500 unit shares with a face value of Rs. 100 each, starting from the 10th of Ashad, 2080. The goal is to raise Rs. 5.39 crore through this IPO. The initial closing date for the subscription is the 13th of Ashad, with a possible extension until the 24th of Ashad, 2080, if the issue is not fully subscribed.

    Out of the total 650,000 units, 10% (65,000 units) has already been allotted to Nepalese citizens working abroad, 5% (32,500 units) has been set aside for mutual funds, and 2% (13,000 units) has been allocated for the company’s employees. The remaining 539,500 units are available for the general public. Following the IPO issuance, the company’s paid-up capital will increase to Rs. 22 crores.

    Previously, the company had issued 2,20,000 unit shares worth Rs. 2.2 crores to project-affected locals in Lamjung District and 65,000 unit shares to Nepalese citizens working abroad. The promoter-public share ratio will be 60.45:39.55 after the completion of this IPO.

    Siddhartha Capital Limited has been appointed as the issue manager for the IPO. Interested applicants can apply for a minimum of 10 units and a maximum of 100,000 units.

    CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Upper Syange Hydropower Limited, indicating a moderate risk of default in meeting financial obligations in Nepal.

    Upper Syange Hydropower Limited, originally incorporated as Upper Syange Hydropower Private Limited on January 26, 2009, converted to a public limited company on March 30, 2017. The company is promoted by individual and institutional promoters from various backgrounds. It is currently working on the development of a 2.4 MW Run-of-River (RoR) Upper Syange Hydropower Project (USHP) in Lamjung district, following the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Ghorahi Cement Industry Launches IPO Offering of 69.11 Lakh Unit Shares to the Public

    Ghorahi Cement Industry Launches IPO Offering of 69.11 Lakh Unit Shares to the Public


    Ghorahi Cement Industry is now offering 69.11 lakh unit ordinary shares at a premium price of Rs 435 to the general public through an Initial Public Offering (IPO) that started on Jestha 32, 2080. The IPO will be open for subscription until Asar 4, 2080, and if necessary, the closing date may be extended until Asar 14, 2080.

    Interested individuals can apply for a minimum of 10 units and a maximum of 10 lakh unit shares. This information has been provided in a media statement issued by the company.

    After expanding its production capacity, Ghorahi Cement Industry can now produce 6000 tons of clinker and 4000 tons of grinding material per day, as stated in the media statement.

  • Ghorahi Cement Industry IPO Oversubscribed as Public Shows Strong Interest

    Ghorahi Cement Industry IPO Oversubscribed as Public Shows Strong Interest


    Ghorahi Cement Industry Limited, a company in Nepal, has recently issued an Initial Public Offering (IPO) to the general public. The IPO consists of 69,11,670 unit shares priced at Rs 435 per unit, including a premium of Rs 335. The offer opened on 32nd Jestha, 2080 and is scheduled to close on 4th Ashad, with a possible extension until 14th Ashad if it is not fully subscribed.

    The allocation of shares includes 20% for project-affected locals, 606,350 units for Nepalese citizens working abroad, 328,961 units for mutual funds, and 19,530 units for company employees. The remaining 69,11,670 units are available for the general public. The IPO is expected to generate Rs. 3.44 Arba for the company, with Rs 2.65 Arba as the premium amount and the rest contributing to the paid-up capital.

    The IPO has garnered significant interest from investors, as the number of applications received so far has surpassed the available shares. According to CDSC, 288,456 applicants have applied for a total of 98,02,460 units, resulting in an oversubscription of 1.42 times.

    Himalayan Capital Limited and Nabil Investment Banking Limited have been appointed as the issue managers for the IPO. The application process allows a minimum of 10 units and a maximum of 10,00,000 units to be applied for.

    CARE Ratings Nepal Limited has assigned a rating of `CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited. This rating signifies a moderate degree of safety in terms of the company’s ability to meet its financial obligations in a timely manner.

    Overall, the IPO of Ghorahi Cement Industry Limited has attracted significant investor interest, surpassing expectations and demonstrating confidence in the company’s prospects.

  • Dobhan HydroPower Company Appoints Sanima Capital as Issue Manager for Upcoming IPO

    Dobhan HydroPower Company Appoints Sanima Capital as Issue Manager for Upcoming IPO


    Dobhan HydroPower Company has recently chosen Sanima Capital as the issue manager for its upcoming initial public offering (IPO). The agreement between the hydro company’s Managing Director, Mr. Puranjan Rai, and the merchant bank’s CEO, Mr. Bishm Raj Chalise, was formalized during a program, according to a media statement.

    In the IPO, Dobhan HydroPower Company plans to offer 2.28 million unit shares to the general investors, amounting to a total value of Rs. 22.80 crore. The hydro company is presently involved in the construction of the Junbesi Khola hydro project in the Solukhumbu district, with 75% of the construction work already completed, as stated in the media release.

  • Himalayan Reinsurance Limited Reports Impressive Q3 Results

    Himalayan Reinsurance Limited Reports Impressive Q3 Results


    Himalayan Reinsurance Limited (HRL) has released its third-quarter financial report for the ongoing fiscal year 2079/80, showcasing a net profit of Rs. 25.44 crores. This marks an increase compared to the corresponding quarter of the previous fiscal year when the company earned Rs. 19.64 crores.

    Notably, HRL has experienced a significant surge in net premium, which has grown by a remarkable 612.61%. The net premium now amounts to Rs. 3.38 Arba as of Q3 of the current fiscal year.

    In terms of its financial reserves, HRL holds Rs. 13.69 crores in the insurance fund and Rs. 1.50 crores in the contingent fund.

    Furthermore, the company’s income from investments, loans, and other sources has witnessed growth, reaching Rs. 15.75 crores by the end of the third quarter of the current financial year.

    The annualized earnings per share (EPS) ratio of HRL stands at Rs. 4.85, reflecting its profitability, while the net worth per share is reported as Rs. 107.47.

    HRL maintains a paid-up capital of Rs. 7 Arba and has accumulated a reserve and surplus of Rs. 38.58 crores.

    These positive financial results demonstrate HRL’s strong performance and stability in the reinsurance sector, highlighting its ability to generate substantial profits and maintain a healthy financial position.

  • 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’s IPO Allotment Oversubscribed 19.82 Times, Set for Tuesday

    Rawa Energy Development Limited’s IPO Allotment Oversubscribed 19.82 Times, Set for Tuesday


    The IPO allotment of Rawa Energy Development Limited is scheduled to take place on Tuesday, 30th Jestha, 2080. The allotment program will be conducted at the premises of Prabhu Capital Limited, located in Kamaladi, Kathmandu, at 4 pm. The company had offered 643,667 unit shares with a face value of Rs 100 to the general public. Out of the total shares available, 56,000 units were specifically allocated to Nepalese citizens working abroad, while 37,616 units were set aside for mutual funds. Additionally, 15,047 units were reserved for the company’s employees, leaving the remaining 643,667 units open for the general public.

    According to data provided by CDSC (Central Depository System and Clearing Limited), the IPO received a significant response, with approximately 1,165,526 applications submitted, requesting a total of 12,761,480 units of shares by the closing day. This indicates that the IPO was oversubscribed by an impressive 19.82 times in terms of the number of units applied for by ordinary applicants.

    Analyzing the data, it becomes evident that out of the numerous applications received, only 64,366 fortunate applicants will be granted ownership of the company through the IPO allotment process.

    In terms of issuer ratings, CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating indicates that issuers with such a rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations within Nepal

  • Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times

    Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times


    Rawa Energy Development Limited is set to conduct the IPO allotment on Tuesday, 30th Jestha, 2080. The allotment program will take place at the premises of Prabhu Capital Limited, the issue manager, located in Kamaladi, Kathmandu, at 4 pm.

    During the IPO, the company had issued a total of 643,667 unit shares with a face value of Rs 100 to the general public. Out of the overall 752,330 units available, 56,000 units were allotted to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated for the company’s employees. The remaining 643,667 units were open to the general public.

    As per data provided by CDSC (Central Depository System and Clearing Limited), the IPO received approximately 1,165,526 applications, requesting a total of 12,761,480 units of shares by the closing day. This indicates that the IPO was oversubscribed by 19.82 times in terms of the number of units applied for by ordinary applicants.

    Considering the data, it can be concluded that only 64,366 fortunate applicants will be allotted shares and become owners of the company.

    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 such a rating have a moderate risk of default regarding the timely servicing of financial obligations within Nepal.

  • Three Star Hydropower Limited Announces IPO Offering to the General Public, Seeking Rs 6.13 Crore

    Three Star Hydropower Limited Announces IPO Offering to the General Public, Seeking Rs 6.13 Crore


    Three Star Hydropower Limited has recently released an offer letter announcing its Initial Public Offering (IPO) to the general public. The company plans to issue 613,162 unit shares with a face value of Rs 100 each, starting from the 5th of Ashad, 2080. The objective is to raise Rs 6.13 crore through this IPO. The early closing date for the issue is set for the 8th of Ashad, with a possibility of extension until the 19th of Ashad, 2080 if the issue is not fully subscribed.

    Among the total 738,750 units, 10% (73,875 units) have already been issued and allocated to Nepalese citizens working abroad, 5% (36,938 units) have been reserved for mutual funds, and 2% (14,775 units) have been set aside for the employees of the company. The remaining 613,162 units are available for the general public. Following the IPO issuance, the paid-up capital of Three Star Hydropower Limited will reach Rs. 49.25 Crores.

    Previously, the company had issued 492,500 unit shares worth Rs. 4.92 crores to project-affected locals of Khotang District and 73,875 unit shares to Nepalese citizens working abroad. Overall, promoter shareholders hold 75% of the company’s shares.

    Himalayan Capital Limited has been appointed as the issue manager for the IPO issuance. Interested individuals can submit applications for a minimum of 10 units and a maximum of 50,000 units.

    ICRA Nepal has assigned an issuer rating of [ICRANP-IR] B- (pronounced ICRA NP issuer rating B minus) to Three Star Hydropower Limited. This rating suggests a high risk of default regarding the timely servicing of financial obligations for issuers in this category.

  • 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.

  • Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore

    Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore


    Rawa Energy Development Limited has announced the opening of its initial public offering (IPO) of 643,667 unit shares with a face value of Rs. 100 per share. The IPO subscription period begins on 18th Jestha, 2080 and ends on 22nd Jestha. In the event of undersubscription, the closing date may be extended until 32nd Jestha, 2080.

    Previously, the company had issued 280,000 unit shares worth Rs. 2.8 crores to project-affected locals in Khotang District. However, only 87,370 units were allotted to valid applicants, leaving 192,330 units unsubscribed. These remaining 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 already been issued and allotted to Nepalese citizens working abroad, while 37,616 units have been set aside for mutual funds, and 15,047 units have been reserved for the company’s employees. The remaining 643,667 units are offered to 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, and interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating suggests 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, later converted to a public limited company on June 28, 2019. The company is promoted by experienced individuals in the hydropower and other sectors, with a focus on developing hydroelectric projects in Nepal. The company’s flagship project is 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.