Tag: Issue

  • Rawa Energy Development Limited closes IPO for project-affected locals in Nepal

    Rawa Energy Development Limited closes IPO for project-affected locals in Nepal


    Rawa Energy Development Limited is a public limited company that was initially incorporated as a private limited company on August 16, 2009. It was later converted into a public limited company on June 28, 2019. The company is engaged in setting up Hydroelectric Projects (HEP) in Nepal, and it is promoted by business persons who have long experience in the hydropower and other sectors.

    The company has a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) located in Khotang District. The project has been in commercial operation since September 20, 2020, and it was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism. The project has been providing power to the national grid and has been contributing to the development of the region.

    Rawa Energy Development Limited is closing the issue of its IPO for project-affected locals today, which was opened on 23rd Chaitra, 2079. The issued capital of the company is Rs. 28 Crores, out of which 10% i.e. 2,80,000 unit shares worth Rs. 2.8 crores have been allocated to project-affected locals of Khotang District. The remaining 20% of the company’s issued capital, i.e., 560,000 unit shares, will be issued later for the general public. Of this public issue, 10% of the shares totaling 56,000 units shares were allocated for Nepalese citizens working abroad, the issue of which closed on 7th Baisakh, 2080.

    The minimum application quantity for project-affected locals is 10 units, while the maximum quantity is 10,000 units. Prabhu Capital Limited has been appointed as the issue manager for the IPO, and the promoter-public share ratio will be 70:30 after this IPO.

    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 this rating have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

     

  • Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public

    Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public


    Citizens Capital Limited has announced the closure of its mutual fund scheme, “Citizens Super 30 Mutual Fund”, to the general public from 20th Baisakh, 2080. The issue was opened on the 6th of Baisakh and was supposed to close on the 10th of Baisakh, 2080. However, as the issue manager didn’t receive enough applications, the issue was extended until the 20th of Baisakh.

    Out of a total of 10 crore unit shares, 1.50 crore units worth Rs. 15 crores have been allocated to the fund promoter, Citizens Bank International Limited, while the remaining 8.5 crore units are for the general public. The fund will be traded in the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants can apply for a minimum of 100 units and a maximum of 10,000,000 units.

    According to the CDSC, a total of 15,683 applicants have applied for 47,295,800 units worth Rs. 47.29 crore so far. This indicates a good response to the scheme, even though the issue was extended due to insufficient applications.

    Citizens Capital Limited currently manages two closed-end funds in the market, Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2). The closure of the Citizens Super 30 Mutual Fund scheme is expected to be beneficial for investors looking to invest in a diversified portfolio and achieve long-term financial goals.

  • Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public

    Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public


    Modi Energy Limited has started offering 55,59,420 unit IPO shares with a face value of Rs 100 to the public, aiming to raise Rs 55.59 crore. The IPO will close on the 24th of Baisakh, and it can be extended up to the 2nd of Jestha, 2080, if it is not fully subscribed. The company had previously issued 29,00,000 unit shares worth Rs. 29 crores to project-affected locals of Parbat District, and the remaining 20,95,610 units of unsubscribed shares are added to 43,50,000 units reserved for the general public. A total of 64,45,610 units are for the general public. Sunrise Capital Limited is the issue manager for the IPO, and applications can be made for a minimum of 10 units and a maximum of 100,000 units. Modi Energy Limited has been promoted by institutional promoters and individual businessmen, and the Hydroelectric Project of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project, is being constructed under the “BOOT” model in the Parbat district of Nepal.

  • “National Hydro Power reports Q3 net loss of Rs. 2.29 Crores due to increased interest expenses; announces plans to issue 50% right shares”

    “National Hydro Power reports Q3 net loss of Rs. 2.29 Crores due to increased interest expenses; announces plans to issue 50% right shares”


    In the third quarter (Q3) of the current fiscal year 2079/80, National Hydro Power Company Limited (NHPC) reported a net loss of Rs. 2.29 Crores, compared to a profit of Rs. 3.27 Crores in the corresponding quarter of the previous year. The company’s total revenue till the end of Q3 was Rs. 2.91 crores. However, NHPC’s administrative expenses declined by 6.97%, while financial expenses increased significantly by 125.40%, affecting the company’s profitability for this quarter.

    NHPC’s reserves and surplus currently stand at Rs. 83.03 Lakhs, with share capital at Rs. 1.64 Arba. The hydropower company plans to issue 50% right shares worth Rs. 82.21 Crores to its existing shareholders, which will increase the paid-up capital to Rs. 2.46 Arba after approval by SEBON.

    NHPC is also involved in the Lower Erkhuwa Hydropower Project in Bhojpur District, Province 1, which is expected to start generating 80 GWh of energy annually within 2023 and generate about N. Rs. 450 million in revenue. Additionally, the company is leading the study of the Likhu hydropower project, which is being promoted after concluding an agreement regarding holding of 75% shares in Bright Energy Solutions.

    NHPC’s annualized earning per share is currently at Rs. -1.86, while the net worth per share is at Rs. 100.50. The company’s Q3 report shows a decrease in reserves and surplus by 75.90%, property, plant, and equipment (NET) increasing by 0.51%, and a decline in total income (power sales) by 19.41%. The Q3 market price for NHPC was at 239.

     

  • “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”

    “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”


     

    Ingwa Hydropower Limited has announced the closure of its IPO issuance of 12,68,639 unit shares with a face value of Rs. 100 per share. The issue, which opened on April 13, 2080, is oversubscribed by 8.64 times, with 994,624 applicants applying for a total of 10,964,750 units. The company intends to collect Rs. 12.68 crore from this IPO, with 70% of the shares belonging to promoter shareholders.

    Before this issuance, the company had allotted 306,840 units of its 6,00,000 unit shares worth Rs. 6 crores to project-affected locals in Taplejung District, with the remaining 293,160 units added to the 12,00,000 units reserved for the general public. Out of the total 14,93,160 units available to the general public, 120,000 units have already been allotted to Nepalese citizens working abroad, while 5% and 2% have been set aside for mutual funds and employees of the company, respectively. The remaining 12,68,639 units are for the general public, with a minimum application of 10 units and a maximum of 20,000 units.

    The IPO issuance is managed by Sunrise Capital Limited, while CARE Ratings Nepal Limited has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Ingwa Hydropower Limited, indicating a moderate risk of default regarding timely servicing of financial obligations in Nepal. The company was incorporated on June 23, 2009, as a private limited company and was later converted into a public limited company on August 25, 2014. The company’s institutional promoters and individual businessmen in Nepal have promoted it to set up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project under the BOOT mechanism in the Panchthar district of Nepal.

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  • “Ankhukhola Hydropower Plans to Issue 200% Right Shares Pending Approval from Electricity Regulatory Commission”

    “Ankhukhola Hydropower Plans to Issue 200% Right Shares Pending Approval from Electricity Regulatory Commission”


    Ankhukhola Hydropower Company Limited (AKJCL) has proposed to issue 200% rights shares to its shareholders. The company aims to invest 60% of the newly raised capital in the Ganesh Himal Hydropower’s 20 M.W- Ankhu Khola-2 Hydropower project. This decision was made during a board of directors meeting held on Baishakh 15, 2079.

    After the issuance of right shares at a ratio of 1:2, AKJCL’s paid-up capital will increase from Rs. 80 crores to Rs. 1.60 Arba. On Chaitra 23, 2079, a meeting was held where it was decided to invest 60% in the Ankhu Khola-2 Hydropower project. The investment agreement between the two companies was signed on Chaitra 24, 2079.

    The Ankhu Khola-2 Hydropower project is designed to generate 122.16 GWh of electricity annually, based on a river flow rate of 27.73 cubic meters per second and a total head of 91 meters. The electricity produced will be transmitted to the national grid through a 5 km transmission line via the Nepal Electricity Authority’s proposed Lapang Substation.

    AKJCL plans to invest the Rs. 96 crores received from legitimate shares in the Ganesh Himal Hydropower project. The remaining funds will be used to pay off loans and other obligations owed to banks and other financial organizations. However, the issuance of right shares will only occur after approval from the Electricity Regulatory Commission and endorsement by the company’s upcoming AGM.

     

  • SSHL Plans to Issue 100% Right Shares to Shareholders

    SSHL Plans to Issue 100% Right Shares to Shareholders


    Shiva Shree Hydropower Limited (SSHL) has made an important decision to issue 100% right shares to its shareholders in a 1:1 ratio, according to a recent board of directors’ meeting held on 14th Baisakh, 2080. This move will increase the company’s current paid-up capital from Rs. 1.47 Arba to Rs. 2.95 Arba.

    The primary objective of issuing the right shares is to pay back the bank debt. SSHL is preparing to issue rights after receiving approval from the Electricity Regulatory Commission and the subsequent Annual General Meeting. This is a significant development for SSHL, as it will not only help the company pay off its debts, but it will also increase its capital, giving it more financial flexibility to pursue future endeavors.

    The decision to issue right shares is a common practice among companies, and it allows them to raise capital by offering existing shareholders the right to purchase additional shares at a discounted price. This not only benefits the company but also the shareholders, as it enables them to increase their stake in the company at a lower cost.

    Overall, SSHL’s decision to issue 100% right shares is a positive move that will benefit both the company and its shareholders. The increased capital will give the company more financial flexibility to pursue its goals and pay off its debts, which is always a positive sign for any company.

  • SEBON Approves 75% of Himal Dolakha Hydropower Right Shares; Company to Issue 1.20 Crore Right Shares Soon

    SEBON Approves 75% of Himal Dolakha Hydropower Right Shares; Company to Issue 1.20 Crore Right Shares Soon


     

    The Securities Board of Nepal (SEBON) has accepted Himal Dolakha Hydropower Company Limited’s (HDHPC) rights selling proposal for Baisakh 12, 2080.

    The hydroelectric business would issue 75% right shares at Rs. 1.20 Arba to its current shareholders in the form of 1,20,00,000 (1: 0.75) units of right shares. The company’s current paid-up capital is Rs. 1.60 Arba. As a result, following the issuance of the right share in the ratio of 1:0.75, the company’s paid-up capital would be increased to Rs. 2.8 Arba.

  • SEBON Approves Upper Syange Hydropower IPO Proposal

    SEBON Approves Upper Syange Hydropower IPO Proposal


     

    The Securities Exchange Board of Nepal (SEBON) has authorized Upper Syange Hydropower Limited’s proposed initial public offering (IPO) on Baisakh 13, 2080.

    The corporation will now issue 870,000 equity shares at NPR 100 per share. The issuance is worth Rs. 8.7 crore. This is equivalent to 39.55% of the company’s issued capital. The company’s total paid-up capital following the IPO allotment will be Rs 22 crores.

     

  • SEBON has finally approved Nepal Republic Media’s IPO proposal.

    SEBON has finally approved Nepal Republic Media’s IPO proposal.


    The Securities Exchange Board of Nepal (SEBON) has authorized Nepal Republic Media Limited’s proposed initial public offering (IPO) on Baisakh 11.

    The corporation will now issue 4,353,000 equity shares at NPR 100 per share. The issuance is worth Rs. 43.53 crore. This represents 44.99% of the outstanding capital of the corporation. The company’s total paid-up capital following the IPO allotment will be Rs 96.75 crores.

    Mega Capital Markets Limited has been designated as the planned IPO’s issue manager.

    Nepal Republic Media Pvt. Ltd., the publisher of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is the first media company to become public.

  • SEBON Approves 11% LBBL Debenture 2089; Bank Will Soon Issue 10 Lakh Unit Debentures

    SEBON Approves 11% LBBL Debenture 2089; Bank Will Soon Issue 10 Lakh Unit Debentures


     

    On Baisakh 10, 2080, the Securities Board of Nepal (SEBON) authorized the “11% LBBL Debenture 2089”.

    Lumbini Bikas Bank Limited (LBBL) plans to issue 10 lakh unit debentures at Rs 1000 per unit. For a period of ten years, the bank will give an interest rate of 11% on the debenture.

    Four hundred thousand units will be made available to the general public out of the total number of units available.

  • From Baisakh 19, Ghorahi Cement Industry will provide IPO shares at a premium price to Dang District residents and Nepalese working abroad.

    From Baisakh 19, Ghorahi Cement Industry will provide IPO shares at a premium price to Dang District residents and Nepalese working abroad.


     

    Ghorahi Cement Industry Limited (GCIL) has issued an offer letter to provide an Initial Public Offering (IPO) to Dang District residents and Nepalese people living overseas.

    The initial public offering (IPO) for locals and Nepalese citizens working abroad will take place from the 19th of Baisakh to the 2nd of Jestha, 2080. It should be noted that if the problem is not subscribed to by the early closing date for Dang District residents, it may be prolonged until the 17th Jestha. However, the early closure date for Nepalese people working overseas will not be extended.