Tag: Immigrants

  • Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today

    Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today


    Nepal Warehousing Company is set to conclude the issuance of its Initial Public Offering (IPO) for Foreign Nepalese Immigrants today, marking the 24th of Kartik as the closing day. The IPO, which opened on the 10th of Kartik, 2080, has a total issued capital of Rs. 68.75 Crores. Of this, 20%, equivalent to 13,75,000 unit shares worth Rs. 13.75 Crores, will be allocated for the general public. Within this public issue, 10% of the shares, totaling 1,37,500 units, have been earmarked for Nepalese citizens working abroad, and the subscription for this segment will close today.

    Out of the 13,75,000 units, 68,750 units (5% of the total) are reserved for mutual funds, and 27,500 units (2% of the total) are designated for the company’s employees. The remaining 11,41,250 units are available for the general public. Himalayan Capital is appointed as the issue manager for the IPO, with a minimum application quantity of 10 units and a maximum of 50,000 units.

    As per the Central Depository and Clearing Company (CDSC), substantial interest has been seen in the IPO, with 32,605 applicants applying for a total of 7,86,220 units. Consequently, the issue has already been oversubscribed by 5.71 times as of 10 AM today.

    ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- to Nepal Warehousing Company Limited. This rating suggests a moderate risk of default regarding the timely servicing of financial obligations for the company.

    Established under the Company Act, 2063 of Nepal, Nepal Warehousing Company aims to address the warehousing needs of farmers, traders, millers, and businessmen involved in grain trade for commercial and industrial purposes. The company seeks to combat post-harvest losses, maintain product quality, and address the challenge of preserving grains in a conducive environment. To achieve this, the company has installed high-quality silos with a capacity of 55,000 MT at three different locations in provinces 1, 2, and Lumbini province.

  • Muktinath Krishi Company’s Foreign Nepalese Immigrants IPO Sees Significant Oversubscription, Closing Today

    Muktinath Krishi Company’s Foreign Nepalese Immigrants IPO Sees Significant Oversubscription, Closing Today


    Muktinath Krishi Company Limited is concluding the issuance of its Initial Public Offering (IPO) for Foreign Nepalese Immigrants today, marking the 24th of Kartik as the closing date. The IPO was initiated on the 10th of Kartik, 2080.

    With an issued capital of Rs. 70 Crores, the company plans to issue 14,00,000 unit shares worth Rs. 14 Crores to the general public, constituting 20% of the total capital. Specifically, 10% of these shares, totaling 140,000 units, have been earmarked for Nepalese citizens working abroad, and the application period for this segment is set to close today.

    NIMB Ace Capital serves as the appointed issue manager for this IPO. Interested applicants can apply for a minimum of 10 units and a maximum of 1,000 units. According to information from the Central Depository and Clearing Company (CDSC), the IPO has garnered substantial interest, with 32,883 applicants applying for a total of 7,70,900 units. Consequently, the issue has been oversubscribed by 5.50 times as of now.

    ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). This rating implies a moderate risk of default regarding the timely servicing of financial obligations for the company.

    Muktinath Krishi Company is closely associated with Muktinath Bikash Bank, being the first public agricultural company established in 2075. The company’s mission is to play a managerial role in the agricultural value chain through campaigns such as “Krishak sanga Muktinath” and “Upabhoktaa sanga Muktinath,” aiming to enhance Nepal’s agricultural economy. Operating across more than 70 districts, with over 200 distribution channels and Agricultural Resource Centers, the company provides goods and services to support agricultural development nationwide.