Tag: Jestha

  • End of Lock-in Period: VLUCL Notifies Investors Regarding Mutual Fund Shares

    End of Lock-in Period: VLUCL Notifies Investors Regarding Mutual Fund Shares


    Vision Lumbini Urja Company Limited (VLUCL) has informed its investors and stakeholders about the impending end of the lock-in period for 95,625 unit shares held by Mutual Funds. This lock-in period, in accordance with the latest directives from the Securities Board of Nepal (SEBON), is scheduled to expire on the 4th Jestha, 2081.

    VLUCL, with a total of 19,125,000 units of shares listed on the Nepal Stock Exchange (NEPSE), reserved 5 percent of these shares exclusively for Mutual Funds. Consequently, 95,625 unit shares were issued and are currently under the lock-in period.

    In compliance with SEBON’s directives, these 95,625 units were subjected to a lock-in period, which is set to conclude on the 4th Jestha, 2081, as communicated to investors and stakeholders.

    As of the previous trading day, VLUCL closed at Rs. 507.00.

  • Shikhar Insurance Leads Non-Life Insurance Premium Collection with Rs. 36.19 Arba in Jestha

    Shikhar Insurance Leads Non-Life Insurance Premium Collection with Rs. 36.19 Arba in Jestha


     

    In the first eleven months of the fiscal year 2079/80, non-life insurance companies in Nepal collected an impressive amount of Rs. 36.19 Arba in premiums from 25.37 lakh active insurance policies. According to a report from the Nepal Insurance Authority, Siddhartha Premier Insurance holds the most active policies at 313,602, followed by Sagarmatha Lumbini Insurance with 305,633 policies. On the other hand, National Insurance Co. Ltd has the fewest active policies, with only 30,563 in total.

     

  • “CorporatePay Surpasses NRs 50 Billion Transaction Milestone in Jestha 2080”

    “CorporatePay Surpasses NRs 50 Billion Transaction Milestone in Jestha 2080”


     

    In the month of Jestha, 2080, the monthly transactions through CORPORATEPAY exceeded NRs. 50 Billion, marking the highest amount for a single month since its launch in Magh 2077. The total transaction value for the current fiscal year has surpassed NRs. 421 Billion, a significant increase from the previous fiscal year’s NRs. 190.5 Billion. The growing usage and acceptance of CORPORATEPAY as the primary B2B payment channel by businesses and institutions have played a crucial role in doubling the transaction volume.

     

  • Surge in Electric Vehicle Imports Impacts Government Revenue in Jestha

    Surge in Electric Vehicle Imports Impacts Government Revenue in Jestha


     

    The import of electric vehicles in the month of Jestha saw a significant rise, with 3,800 units being imported. This increase in import numbers was observed as businesses are increasingly turning to electric vehicles due to challenges in importing petroleum vehicles. The customs department provided statistics indicating that the import consisted of electric cars, vans, and jeeps. In addition, during the same month, the export amount reached Rs. 11.23 Arba.

     

  • 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.

  • Summit Laghubitta Bittiya Sanstha AGM Announced: Dividend Endorsement, Merger Proposal, and FPO Agenda on the Table

    Summit Laghubitta Bittiya Sanstha AGM Announced: Dividend Endorsement, Merger Proposal, and FPO Agenda on the Table


    Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has announced the date for its 14th Annual General Meeting (AGM) on 30th Jestha, 2080. The meeting is scheduled to take place at Arniko Party Palace in Banepa, commencing at 10:30 AM.

    One of the key agendas of the AGM is the endorsement of a 14.276582% dividend for the fiscal year 2078/79. During the 33rd board of directors meeting held on Falgun 15, it was decided to distribute this dividend on the paid-up capital of Rs. 49.40 crores. The proposed dividend includes a bonus dividend of 13.562753%, amounting to Rs. 6.70 crores, and a cash dividend of 0.713829%, equivalent to Rs. 35.26 lakhs (for tax purposes).

    Additionally, the AGM will discuss and vote on resolutions related to the Due Diligence Audit and Memorandum of Understanding for the proposed merger between Summit Laghubitta and National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS). The share swap ratio for the merger has been set at 100:82, meaning that for every 100 units of Summit’s shares, shareholders will receive 82-unit shares of National Microfinance.

    Furthermore, the meeting will address the issuance of Further Public Offerings (FPO) to the general public, aiming to increase the company’s public shareholding ratio by 30%. Currently, the promoter to public shareholding ratio of the company stands at 80.63:19.37. There is also an agenda to raise the authorized capital to Rs. 70 crores.

    It is important to note that the book closure date has been set on Jestha 18. Shareholders who hold shares before this date will be eligible for the dividend payout and are welcome to attend the AGM. These discussions and resolutions signify the company’s efforts to enhance shareholder value and explore opportunities for growth and expansion.

  • Rawa Energy Development Limited Announces Initial Public Offering (IPO) for General Public

    Rawa Energy Development Limited Announces Initial Public Offering (IPO) for General Public


    Rawa Energy Development Limited has recently announced its plan to issue an Initial Public Offering (IPO) to the general public. The company aims to issue 6,43,667 unit shares with a face value of Rs 100, starting from 18th Jestha, 2080. The goal of this IPO is to raise Rs 6.43 crore. The closing date for the IPO is initially set for 22nd Jestha, with the possibility of extension until 32nd Jestha, 2080 if the issue is not fully subscribed.

    Previously, the company had issued 2,80,000 unit shares worth Rs. 2.8 crores to project-affected locals in Khotang District. However, only 31.2% of these shares were allotted to valid applicants, leaving 192,330 unsubscribed shares. These unsubscribed shares, along with 560,000 units (20% of the issued capital reserved for the general public), make a total of 752,330 units available for the general public to apply for.

    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 employees of the company. The remaining 643,667 units are open for application by the general public.

    The majority of shares, 70% to be precise, are held by the promoter shareholders of Rawa Energy Development Limited. Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance, and interested investors 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, indicating a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

    Rawa Energy Development Ltd is a public limited company that was originally incorporated as a private limited company on August 16, 2009, and later converted to a public limited company on June 28, 2019. The company is promoted by individuals with extensive experience in the hydropower sector and aims to establish hydroelectric projects in Nepal. Their existing project, the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) located in Khotang District, has been in commercial operation since September 20, 2020. The project was developed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • LBBL Announces 11% Debenture Issuance for Public and Institutions

    LBBL Announces 11% Debenture Issuance for Public and Institutions


    Lumbini Bikas Bank Limited (LBBL) has announced its plan to issue 10,00,000 units of “11% LBBL Debenture 2089” to the general public and institutions. The debenture has a maturity period of 10 years and offers an 11% coupon rate. The application period for the debenture will be open from 16th Jestha to 19th Jestha, 2080, with a possible extension to Jestha 30, 2080, if the issue is not fully subscribed.

    The debenture will be issued at a par value of Rs. 1000 per unit, totaling 10 lakh units. Of these, 60% (6 lakh units) will be subscribed through private placement, while the remaining 4 lakh units worth Rs. 40 Crores will be available for the public to apply, with 5% allocated for mutual funds. The issuance aims to raise a total of Rs. 1 Arba.

    Nabil Investment Banking Limited will act as the issue manager for this debenture issuance. Interested investors can apply for a minimum of 25 units and a maximum of 1,00,000 units.

  • Rawa Energy Development Limited Successfully Allots IPO Shares to Project-Affected Locals in Khotang District

    Rawa Energy Development Limited Successfully Allots IPO Shares to Project-Affected Locals in Khotang District


    Rawa Energy Development Limited has successfully completed the allotment of IPO (Initial Public Offering) shares to project-affected locals of the Khotang District. The allotment program concluded on 1st Jestha, 2080.

    The company’s total issued capital is Rs. 28 Crores, out of which 10%, equivalent to 2,80,000 unit shares worth Rs. 2.8 crores, were specifically allocated to project-affected locals of the Khotang District. The IPO had opened for subscription on 23rd Chaitra, 2079, with the original closing date set for 7th Baisakh, 2080. However, since the IPO did not receive full subscription by the initial closing date, the deadline was extended until 24th Baisakh, 2080. During the subscription period, locals had the opportunity to apply for a minimum of 10 shares and a maximum of 10,000 shares.

    According to the notice published today, Rawa Energy Development Limited has confirmed that the allotted units have been assigned to valid applicants on 1st Jestha, 2080. This completion of the allotment process marks an important step in involving project-affected locals from the Khotang District in the company’s operations.

  • 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.

  • Unique Nepal Laghubitta Bittiya Sanstha Limited Announces Follow on Public Offer (FPO) to Adjust Shareholding Ratio

    Unique Nepal Laghubitta Bittiya Sanstha Limited Announces Follow on Public Offer (FPO) to Adjust Shareholding Ratio


    Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) has recently announced its plan to issue a Follow on Public Offer (FPO) to the general public. The company aims to release 3,79,425 unit shares with a face value of Rs. 100 starting from the 11th of Jestha, 2080. The objective of this FPO is to collect Rs. 3.79 crore. The offer will be open until the 16th of Jestha, and if not fully subscribed, it may be extended until the 25th of Jestha, 2080.

    Currently, the company’s paid-up capital stands at Rs. 11.06 crores, with 94.01% of shares (10,40,025 units) held by the promoters and 5.99% (66,300 units) held by the public shareholders. However, as per the regulations of the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital must be retained by the public shareholders. To comply with this requirement, the company plans to issue 3,79,425 units of FPO shares to the general public. Following the FPO, the promoter-to-public share structure will change from 94:6 to 70:30.

    It is worth noting that Unique Nepal Laghubitta had initially intended to issue an IPO for 2.70 lakh shares. However, due to a successful merger with Ghodighoda Laghubitta, the two companies commenced their joint operation on the 30th of Poush, 2078, under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited. Since Ghodighoda Laghubitta was already a publicly listed company, the merged entity has opted to issue an FPO to adjust its shareholding ratio.

    Muktinath Capital Limited has been appointed as the issue manager for the FPO issuance. Interested individuals can apply for a minimum of 10 units and a maximum of 1000 units. Following the issuance of the mentioned FPO shares, the company’s paid-up capital will increase to Rs. 14.85 crores.