Tag: Industry

  • Devastating Fire at Bharat Furniture: A Costly Setback for the Industry

    Devastating Fire at Bharat Furniture: A Costly Setback for the Industry


    A devastating fire broke out at Bharat Furniture, located in Matihani-8 of the district, causing extensive damage estimated at over Rs 3.5 million. Owned by Dukhmochan Thakur, the furniture industry fell victim to the blaze, which ignited around 10:00 pm on Monday, as reported by the District Police Office, Mahottari. The inferno swiftly engulfed the premises, consuming furniture and raw materials stored within the establishment.

    Efforts to combat the fire involved teams comprising the Armed Police Force, Nepal Police, and local residents, supported by a fire engine. Despite their collaborative endeavors, the true extent of the damage inflicted by the fire is currently under assessment, highlighting the substantial setback experienced by Bharat Furniture and its proprietor, Dukhmochan Thakur.

  • “Ghorahi Cement, Three Star, and Upper Syange Hydropower IPO Shares Listed on NEPSE”

    “Ghorahi Cement, Three Star, and Upper Syange Hydropower IPO Shares Listed on NEPSE”


     

    NEPSE has listed 39,719,006 units of IPO shares from Ghorahi Cement Industry Limited, which include shares held by promoters, those given to the public, and locals affected by the project. These shares have an initial price range of Rs. 226.61 to Rs. 679.83 for the first trade. If the company and NEPSE sign an agreement, the IPO shares will be available for secondary market trading the following day.

    Among the total shares worth Rs. 3.97 Arba, 69,11,670 units were offered to the general public during the Initial Public Offering held from Ashad 22-25, 2080.

     

  • Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public

    Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public


    The IPO allotment of Ghorahi Cement Industry Limited took place at the premises of Nabil Investment Banking Limited in Naxal, Kathmandu. The company had initially issued 69,11,670 units of IPO shares at a price of Rs. 435 per unit (including a premium of Rs. 335) to the general public on Jestha 32, 2079.

    However, the IPO faced a temporary setback when the issue was paused due to investors applying for shares without having sufficient funds. After conducting a thorough investigation, the company took transparent and corrective measures. As a result, Ghorahi Cement Industry Limited has decided to re-issue the 69,11,670 units of IPO shares to the general public from the 22nd to the 25th of Ashad, 2080.

    The company has a total issued capital of Rs. 3.97 Arba, out of which 20% (79,43,801 unit shares) was set aside for the public, including locals, Nepalese citizens working abroad, and the general public. Additionally, 1% (397,190 unit shares) were issued to project-affected locals of Dang District, and 7,54,661 unit shares were issued to Nepalese citizens working abroad starting from 18th Baisakh.

    Out of the shares issued to project-affected locals, only 77,290 shares were allotted to valid applicants. The public issue for Nepalese migrant workers was undersubscribed by 19.65% or 148,311 units. Consequently, the unsubscribed shares were added to the shares reserved for the general public.

    According to the offer letter, out of the total issued capital, 79,43,801 unit shares (20%) were allotted to the project-affected locals, 606,350 units were allotted to Nepalese citizens working abroad, 328,961 units were set aside for mutual funds, and 19,530 units were reserved for the company’s employees. The remaining shares, after all previous allotments and reservations, amount to a total of 69,11,670 units and are available for the general public.

    The IPO received applications from 5,57,701 valid applicants, who applied for a total of 77,93,710 units, resulting in oversubscription by more than 1.12 times.

    In summary, Ghorahi Cement Industry Limited concluded its IPO allotment and has decided to reissue the shares to the general public. The company faced initial challenges due to insufficient funds from investors but has taken corrective measures. The IPO received significant interest from valid applicants, oversubscribing the issue.

  • Ghorahi Cement Industry Resumes IPO Share Issue for General Public

    Ghorahi Cement Industry Resumes IPO Share Issue for General Public


    Ghorahi Cement Industry Limited will be reissuing its IPO shares to the general public. This decision was made after a temporary setback during the initial offering, where some investors applied for shares without having enough funds. The company has conducted a thorough investigation into the matter and has taken transparent and corrective actions. The reissuance of shares aims to provide a fair and transparent opportunity for interested investors to participate in the IPO. The reissuance period will be from the 22nd to the 24th of Ashad, 2080.

     

  • 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.

  • Ghorahi Cement Industry Concludes IPO for Project-Affected Locals, Generating Rs. 3.44 Arba

    Ghorahi Cement Industry Concludes IPO for Project-Affected Locals, Generating Rs. 3.44 Arba


    Ghorahi Cement Industry Limited is concluding the issuance of its Initial Public Offering (IPO) for project-affected locals today. The IPO, which opened on 18th Baisakh, aims to issue 79,43,801 unit shares to the public, including locals, Nepalese citizens working abroad, and the general public. Out of the total issued capital of Rs. 3.97 Arba, 1% or 397,190 unit shares have been allocated to project-affected locals of Dang District.

    The shares are being offered at a price of Rs. 400 per unit for locals and Rs. 435 per unit for Nepalese citizens working abroad, including a premium amount. The IPO will generate a total of Rs. 3.44 Arba for the company, with a significant portion being premium amounting to Rs. 2.645 Arba.

    Himalayan Capital Limited and Nabil Investment Banking Limited are the appointed issue managers for the IPO. After the IPO, the promoter-public share ratio will be 80:20. CARE Ratings Nepal Limited has assigned a rating of ‘CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited, indicating a moderate degree of safety regarding the timely servicing of financial obligations.

    Ghorahi Cement Industry Limited, formerly known as Ghorahi Cement Industry Private Limited, was established in August 2007. It operates an integrated cement manufacturing plant in the Dang Valley of Western Nepal. The company has a clinker capacity of 1,900 MTPD and a grinding capacity of 2,200 MTPD, with plans for further expansion. Ghorahi Cement Industry sells its products under the brand name “Sagarmatha” across Nepal, with a focus on the western and far-western regions of the country. The company has a network of 21 distributors throughout Nepal.

  • Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals

    Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals


    Ghorahi Cement Industry Limited has announced the closure of its Initial Public Offering (IPO) for Nepalese citizens working abroad starting from 2nd Jestha, 2080. The company has also extended the IPO deadline for project-affected locals until 17th Jestha. The IPO had initially opened on 19th Baisakh, 2080.

    With an issued capital of Rs. 3.97 Arba, Ghorahi Cement will be issuing 20% of its shares, totaling 79,43,801 units, to the public, including locals, Nepalese citizens working abroad, and the general public. Out of the total issued capital, 1% or 397,190 units have been allocated to project-affected locals in the Dang District. Additionally, 19% or 75,46,611 units will be issued later for the general public, with 10% or 7,54,661 units specifically allocated for Nepalese citizens working abroad, closing today.

    The shares will be offered at Rs. 400 per unit for locals and Rs. 435 per unit for Nepalese citizens working abroad, including premiums of Rs. 300 and Rs. 335, respectively.

    Himalayan Capital Limited and Nabil Investment Banking Limited have been appointed as the issue managers for the IPO. Following the issuance, the promoter-public share ratio will be 80:20, generating a total of Rs. 3.44 Arba for the company. Out of this amount, Rs. 2.645 Arba will be allocated as a premium, while the remaining will be added to the paid-up capital.

    According to CDSC, a total of 13,236 applications have been received from Nepalese citizens working abroad, representing a demand for 595,520 units so far.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited, indicating a moderate degree of safety regarding the timely servicing of financial obligations in Nepal.