Tag: General

  • Mai Khola Hydropower Limited Lists 39,21,568 Units of IPO Shares on NEPSE

    Mai Khola Hydropower Limited Lists 39,21,568 Units of IPO Shares on NEPSE


    Mai Khola Hydropower Limited has successfully listed 39,21,568 units of IPO shares on the Nepal Stock Exchange (NEPSE). This figure includes shares held by the promoters, as well as shares issued to project-affected locals and the general public.

    The initial trading range for these shares is set between Rs. 111.67 and Rs. 335.01. If the company enters into an agreement with NEPSE, the IPO shares will be eligible for trading on the secondary market the following day.

    Among the total shares available, 12,69,411 units worth Rs. 12.69 Crore were specifically issued as Initial Public Offerings to the general public during the period of Baisakh 8-12, 2080.

  • Bonus Shares of Four Companies Listed in NEPSE

    Bonus Shares of Four Companies Listed in NEPSE


    The NEPSE has listed a total of 26,37,583.15 unit bonus shares of Agricultural Development Bank Limited (ADBL), signaling a significant development for the bank. This comes after the bank’s 16th Annual General Meeting (AGM) held on 14th Chaitra, where a 13% dividend for the fiscal year 2078/79 was endorsed. The Board of Directors (BoD) meeting held on Poush 26 had proposed distributing 2% bonus shares and an 11% cash dividend to the shareholders. The same bonus shares have now been listed in NEPSE, with ADBL currently having a Last Traded Price (LTP) of Rs. 228.

    Salt Trading Corporation Limited (STC) has also seen 2,53,531.19 unit bonus shares listed in NEPSE. The company’s 56th AGM, held on 10th Chaitra, approved a 15% dividend from the profits of FY 78/79. The Board of Directors meeting on Poush 28 proposed distributing 10% bonus shares and a 5% cash dividend (including tax amount) from the profits of the same fiscal year. STC closed at Rs. 3,623 as of the latest update.

    Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) has witnessed the listing of 2,43,564.30 unit bonus shares in NEPSE. During the company’s 6th AGM on the 11th Chaitra, a 21.0526% dividend worth Rs. 2.56 crores for the fiscal year 2078/79 was endorsed. The board meeting on Magh 11 proposed distributing 20% bonus shares and a 1.0526% cash dividend (for tax purposes) based on the paid-up capital of Rs. 12.17 crores. SMFBS currently has an LTP of Rs. 910.

    Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has listed 12,21,772.39 unit bonus shares in NEPSE. The company’s 12th AGM on 30th Poush approved a 23% dividend for the fiscal year 2078/79. The board meeting on Poush 06 decided to distribute 23% bonus shares from the profit and reserves maintained for the same fiscal year. The bonus shares, amounting to Rs. 12.21 crores, will be distributed to the shareholders. MMFDB currently has an LTP of Rs. 560.

    The listing of bonus shares in NEPSE indicates positive developments for these companies and provides additional benefits to their shareholders.

  • Jyoti Bikas Bank (JBBL) Distributes 3% Bonus Shares and Encourages Dematerialization

    Jyoti Bikas Bank (JBBL) Distributes 3% Bonus Shares and Encourages Dematerialization


    Jyoti Bikas Bank Limited (JBBL) has recently provided 3% bonus shares directly to the DEMAT accounts of its shareholders and has urged them to convert their physical shares into electronic form through dematerialization. The bank’s move aims to facilitate seamless share transactions and promote the modernization of shareholding processes.

    During the bank’s 15th Annual General Meeting (AGM) held on the 14th of Falgun, a dividend of 6.80% amounting to Rs. 29.02 crores was endorsed for the fiscal year 2078/79. The dividend distribution decision was made during the 440th board of directors meeting on Poush 22. Based on the bank’s paid-up capital of Rs. 4,26,77,53,287, the proposed distribution includes 3% bonus shares valued at Rs. 12.80 crores and a 3.80% cash dividend (intended for tax purposes) totaling slightly over Rs. 16.21 crores. It is important to note that the bonus shares have already been listed on the Nepal Stock Exchange (NEPSE).

    JBBL has also requested its shareholders to pay the applicable tax amount for the 11% bonus shares proposed during the fiscal year 2077/2078, including the cash dividend approved during the 15th AGM. Shareholders can find detailed information regarding the tax amount they are required to pay on the website of the share registrar, NIBL Ace Capital Limited.

    By distributing bonus shares and emphasizing the dematerialization process, JBBL demonstrates its commitment to providing value to its shareholders and keeping up with technological advancements in the financial industry. The bank’s efforts aim to enhance efficiency, transparency, and convenience for its shareholders.

  • Balephi Hydropower’s Challenging Q3: Net Losses, Administrative Expenses Surge, and Strategies for Financial Recovery

    Balephi Hydropower’s Challenging Q3: Net Losses, Administrative Expenses Surge, and Strategies for Financial Recovery


    Balephi Hydropower Limited (BHL) has released its third-quarter report for the current fiscal year, revealing a significant net loss of Rs. 23.72 crores. In comparison, during the third quarter of the previous fiscal year 2078/79, the company had reported a net loss of Rs. 6.06 lakhs.

    During the third quarter of the current fiscal year, BHL experienced a substantial increase in administrative expenses, reaching Rs. 25.59 lakhs. Additionally, the company had to bear financial costs amounting to Rs. 31.19 crores up to the third quarter of FY 079/80.

    With an Earnings per Share (EPS) of Rs. -17.30 and a below-average net worth of Rs. 81.93, BHL faces financial challenges. However, the company managed to generate revenue of Rs. 35.93 crores from the sale of power until the end of the third quarter of the ongoing fiscal year.

    According to the management analysis, BHL incurred significant penalties from the Nepal Electricity Authority (NEA) for surpassing the Required Commercial Operation Date (RCOD) as outlined in the Power Purchase Agreement (PPA).

    BHL is optimistic that once the RCOD issue is resolved, the company will generate sufficient cash revenue to meet its financial and operational obligations. To improve its cash flow, the company plans to issue right shares.

    In a meeting held on Falgun 12, 2079, the board of directors of BHL decided to propose the issuance of rights shares in a ratio of 1:0.5 in the next annual general meeting. The proposal aims to utilize the then-paid-up capital of Rs. 1.827 Arba, resulting in an enhanced paid-up capital of Rs. 2.74 Arba after the 50% right issue.

    At the end of the third quarter of this fiscal year, BHL’s closing share price stood at Rs. 321. Additionally, the company successfully increased its paid-up capital by 10.50%, amounting to Rs. 1.82 Arba.

  • Modi Energy Limited IPO Allotment Concludes: Lottery Results Announced

    Modi Energy Limited IPO Allotment Concludes: Lottery Results Announced


    The IPO allotment of Modi Energy Limited has been successfully completed at the premises of Sunrise Capital Limited in Kathmandu. The company had issued 55,59,420 units worth Rs. 55.59 crores as Initial Public Offering (IPO) to the general public from Baisakh 19 to 24, 2080.

    Prior to the IPO, the company had allocated 29,00,000 unit shares worth Rs. 29 crores to project-affected locals in Parbat District. However, only 804,390 units or 27.73% were allotted to valid applicants. As a result, the remaining 20,95,610 units of unsubscribed shares from project-affected locals were added to 43,50,000 units reserved for the general public, making a total of 64,45,610 units available to the public.

    Out of the total 64,45,610 units, 435,000 units were already issued and allotted to Nepalese citizens working abroad. Additionally, 5% of the offered shares, equivalent to 322,280 units, were reserved for mutual funds, and 2% or 128,910 units were set aside for employees of the company. The remaining 55,59,420 units were allocated to the general public. Some unsubscribed units from employees, totaling 52,840 units, were added to the general public pool, resulting in a total of 56,12,260 units.

    Promoter shareholders hold 75% of the shares in the company, while the general public and other allocated categories hold the remaining shares.

    The IPO received a tremendous response, with 12,29,741 valid applicants applying for a total of 13,401,080 units, oversubscribing the issue by more than 2.41 times.

    Under the allotment module, a total of 5,61,226 applicants were allotted 10 units each through a lottery, while the remaining 6,68,515 applicants were not successful in securing any shares.

    Furthermore, 322,280 units were allocated to mutual funds, and out of the 128,910 units set aside for employees, only 76,070 units were subscribed and allotted. The remaining 52,840 units from the employee category were added to the general public pool.

    Unfortunately, 6,528 applicants who applied for 102,950 units were disqualified during the allotment process.

    Overall, the IPO allotment process has been completed, and successful applicants have been notified of their allotted shares.

  • Sagarmatha Lumbini Insurance Company (SALICO) Lists 26,226,382 Shares After Merger of SIC and LGIL

    Sagarmatha Lumbini Insurance Company (SALICO) Lists 26,226,382 Shares After Merger of SIC and LGIL


    Sagarmatha Lumbini Insurance Company Limited (SALICO) has listed 26,226,382 shares on the Nepal Stock Exchange (NEPSE) following a successful merger between Lumbini General Insurance Limited (LGIL) and Sagarmatha Insurance Company Limited (SIC).

    The merger agreement between SIC and LGIL was signed on 30 Ashad, 2079. The swap ratio for the merger was set at 100:80, resulting in a 20% decrease in the number of LGIL shareholders. After the merger, the total listed shares of SIC and LGIL combined amounted to 26,226,382 units.

    Following the successful merger, SIC and LGIL began conducting joint operations under the name Sagarmatha Lumbini Insurance Company Limited (SALICO) starting from Falgun 29, 2079. Consequently, the listed shares will be traded under the symbol “SALICO.”

    The opening price range for the initial transactions has been set at Rs. 599.12.

  • Citizen Investment Trust’s Proposal: A 26.3158% Dividend for the Fiscal Year 2078/79

    Citizen Investment Trust’s Proposal: A 26.3158% Dividend for the Fiscal Year 2078/79


    Citizen Investment Trust (CIT) has put forward a proposal to distribute a 26.3158% dividend for the fiscal year 2078/79. The decision was made during a board of directors meeting held on Baisakh 29. The proposed dividend consists of a 25% bonus shares allocation and a 1.3158% cash dividend (for tax purposes). The current paid-up capital of CIT stands at Rs 4,251,000,576.

    It is important to note that the dividend proposal is subject to approval from the Ministry of Finance, Nepal Government, and the upcoming Annual General Meeting (AGM).

    As of the latest trading day, CIT’s closing price stands at Rs. 2,011.

  • RBB Merchant Banking Closes RBB Mutual Fund 2 Issue to General Public

    RBB Merchant Banking Closes RBB Mutual Fund 2 Issue to General Public


    RBB Merchant Banking Limited has concluded the public offering of its mutual fund scheme, “RBB Mutual Fund 2,” on the specified date of 31st Baisakh. The offering, which initially opened on the 17th Baisakh and was intended to close on the 21st Baisakh, had been extended due to an insufficient number of applications.

    Out of a total of 12 crore unit shares, the fund sponsor, Rastriya Banijya Bank Limited, has been allocated 15% or 1.80 crore units worth Rs. 18 crores. The remaining 10.20 crore units were made available to the general public.

    As reported by CDSC (Central Depository System and Clearing Ltd.), as of 5 PM last Friday, a total of 15,651 applicants have applied for 46,046,424 units worth Rs. 46.04 crores.

    “RBB Mutual Fund 2” is a closed-end fund that will be traded on the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants were able to apply for a minimum of 100 units up to a maximum of 12,000,000 units.

    RBB Merchant Banking Limited currently manages another closed-end fund, RBB Mutual Fund 1 (RMF1), in the market.

  • Workshop on ‘Road to IPO’ Equips Corporate Houses with Legal and Financial Insights

    Workshop on ‘Road to IPO’ Equips Corporate Houses with Legal and Financial Insights


    Collaboratively organized by NIBL Ace Capital Ltd., Express Services Private Limited, and Pioneer Law Associates, a workshop titled “Road to IPO” was held to educate corporate houses about the IPO process from legal and financial perspectives. Dynamic Techno Soft Pvt. Ltd., as a sponsor, prominently displayed its banner during the event. The workshop took place on Monday, May 8, 2023, at Clark Resort in Birgunj.

    Mr. Anup Raj Upreti, Managing Partner of Pioneer Law Associates, and Mr. Sachindra Dhungana, Deputy General Manager of NIBL Ace Capital Limited, served as presenters for the session. CA Subhash Khandelwal and CA Pradeep Kushwaha played crucial roles in the successful implementation of the program.

    The workshop delved into various topics related to IPO, focusing on legal aspects, corporate governance, capital structure, IPO pricing, size, timeline, and methods. Participants from different corporate houses gained valuable insights into the different aspects of IPO.

  • Due to Violation of NRB’s Guideline, 15% Dividend of RULB Canceled

    Due to Violation of NRB’s Guideline, 15% Dividend of RULB Canceled


    Nepal Rastra Bank (NRB) Cancels Dividend Proposal of Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB)

    The dividend proposal put forth by Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has been canceled by the Nepal Rastra Bank. During the 86th meeting of the board of directors held on Baisakh 13, the company had proposed a 15% dividend for the fiscal year 2078/79 based on the paid-up capital of Rs. 26 Crores. The proposal included the distribution of 14.25% bonus shares valued at Rs. 3.7 crores and a cash dividend of 0.75% amounting to Rs. 19.50 lakhs.

    However, as per a notice from the Nepal Stock Exchange (NEPSE), the dividend proposal required approval from the Nepal Rastra Bank (NRB), which has now been canceled due to non-compliance with the Nepal Financial Reporting Standards (NFRS) in the financial statement.

    Furthermore, a letter regarding the company’s annual general meeting was sent to the NRB on Baisakh 20, but the proposed dividend was not included in the letter. As a result, the dividend proposal has been rejected by the NRB.

  • Listing of 4,77,020 Bonus Shares of Asha Laghubitta Bittiya Sanstha Limited (ALBSL) on NEPSE

    Listing of 4,77,020 Bonus Shares of Asha Laghubitta Bittiya Sanstha Limited (ALBSL) on NEPSE


    Asha Laghubitta Bittiya Sanstha Limited (ALBSL) Lists 4,77,020 Bonus Shares on NEPSE at an LTP of Rs. 670

    Following the convening of its 6th Annual General Meeting on 11th Chaitra, Asha Laghubitta Bittiya Sanstha Limited (ALBSL) has listed 4,77,020 unit bonus shares on the Nepal Stock Exchange (NEPSE). The AGM had approved a 15% dividend for the fiscal year 2078/79, with the board of directors deciding to distribute 14.2857% bonus shares and 0.7143% cash dividend (for tax purposes) based on the paid-up capital of Rs. 33.39 Crores. The bonus shares have now been officially listed on NEPSE, and as of the latest update, ALBSL is trading at an Last Traded Price (LTP) of Rs. 670.

  • Liberty Energy Company approves right shares and elects new board members during 13th AGM

    Liberty Energy Company approves right shares and elects new board members during 13th AGM


    Liberty Energy Company held its 13th Annual General Meeting on April 8th, 2023, with Mr. Kush Kumar Joshi as the chair. During the meeting, all financial reports from the previous fiscal year were approved. The meeting also endorsed a proposal to offer 50% of right shares, equivalent to Rs 75 crore, to existing shareholders. Additionally, the election of new board members was approved, including Dr. Aatma Ram Ghimire, Mr. Shyam Bahadur Khadka, Mr. Rajendra Wasti, Mr. Puruswotam Ghimire, and Ms. Kabita Pokharel from the promoter group. Mr. Lochan Koirala from the public group and Ms. Anugya Sapkota were elected as independent board directors.

    Liberty Energy Company currently operates three projects, which are Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi, as stated in the media statement.

    Liberty Energy Company held its 13th Annual General Meeting, where financial reports from the previous fiscal year were approved. The company also approved the proposal to offer 50% of right shares worth Rs 75 crore to existing shareholders. Moreover, the meeting elected new board members, including five members from the promoter group and two independent board directors.

    Lastly, the media statement indicated that Liberty Energy Company is operating three projects: Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi.