Tag: Lakh

  • Eastern Sahara Appoints Global IME Capital for 30 Lakh IPO Shares

    Eastern Sahara Appoints Global IME Capital for 30 Lakh IPO Shares


    Eastern Sahara Company Limited has chosen Global IME Capital Limited as the issue manager for its upcoming IPO of 30,00,000 units at NPR 100 each. The agreement was signed on Falgun 1, 2080, at Global IME Capital Limited’s office in Naxal, Kathmandu.

    The company, established as a public company in 2079, is based in Birtamode Municipality, Jhapa, with a liaison office in Baneshwor Height, Kathmandu. It specializes in micro-capital operations, with a focus on Green Financing and investments in hydropower, agriculture tourism, automobiles, and solar energy projects. Eastern Sahara has attracted investments from notable figures in banking, cooperatives, microfinance, and hydropower sectors, with the aim of contributing to the nation’s economic growth through Green Financing.

     

  • Ghalemdi Hydro Limited Initiates Auction of Unclaimed Right Shares for Public Offering

    Ghalemdi Hydro Limited Initiates Auction of Unclaimed Right Shares for Public Offering


    Ghalemdi Hydro Limited (GHL) has initiated the auction of its unclaimed right share portion starting today, 9th Magh, and concluding on 23rd Magh, 2080. The company is auctioning 32,17,724 units of ordinary right shares, representing the unclaimed segment from its previous 1:2 ratio right share issue, conducted from 10th Mangsir to 16th Poush, 2080. Only 77,82,276 units (70.75%) of the total right shares were allotted to eligible shareholders, leaving 29.25% unclaimed, and these unsold shares are now available for the general public.

    Both individuals and institutions have the eligibility to participate in the auction, managed by Muktinath Capital Limited. The minimum bid rate is set at Rs. 100, with a bid quantity of at least 100 units. While bidders can bid for the entire issue, adherence to regulatory rules restricting the quantity of shares per entity is mandatory.

    GHL’s current paid-up capital is Rs. 55 Crores, and after the adjustment of the proposed right share of 1.10 crore units, the company’s paid-up capital will increase to Rs. 1.65 Arba. Despite posting a net loss of Rs 3.13 crore, the company’s earnings per share stands at Rs. 5.70, and its net worth is Rs. 70.921, according to the first quarterly report for the fiscal year 2080/81.

    As of the latest available information, GHL’s Last Traded Price (LTP) is Rs. 189.00.

  • Siddhartha Premier Insurance Limited Initiates Auction of 300,000 Promoter Shares

    Siddhartha Premier Insurance Limited Initiates Auction of 300,000 Promoter Shares


    The current promoters of Siddhartha Premier Insurance Limited (SPIL) have initiated the auction of 300,000 units of promoter shares, making them available for interested promoter shareholders, as well as the general public and institutions. The auction period spans from the 3rd Magh to the 11th Magh of the year 2080.

    The auction entails the sale of 300,000 units of SPIL’s promoter shares, and interested parties, including both promoter shareholders and the general public or institutions, are eligible to participate. The auction sets a minimum bid rate of Rs. 220, with a minimum bid quantity of 5,000 units for promoter shares.

    NIC Asia Capital Limited has been appointed as the auction manager for this process.

    As of the latest available information, SPIL closed at Rs. 760.00 on the previous day. Concurrently, the Last Traded Price (LTP) for SPILPO stands at Rs. 625.00 as of April 4, 2023.

  • Himalayan Times Media Entertainment and Tech Ltd Appoints Muktinath Capital for 7 Lakh IPO Shares Offering

    Himalayan Times Media Entertainment and Tech Ltd Appoints Muktinath Capital for 7 Lakh IPO Shares Offering


    Himalayan Times Media Entertainment and Tech Ltd (HTMETL) has designated Muktinath Capital as its sales manager for the initial public offering (IPO) of ordinary shares. The agreement between HTMETL and Muktinath Capital, formalized on January 9, outlines the issuance of 700,000 units of ordinary shares valued at Rs 70 million. Each share has a face value of Rs 100 and will be made available to the general public.

    Established in 2001, The Himalayan Times (THT) is a well-established English-language newspaper that achieved an A+ rating, the highest possible rank, in the Press Council Nepal’s 2018 newspaper classification report. Within a year of its launch, THT became the leading English daily in Nepal and claimed the top position in readership. Renowned for its high-quality journalism and broad appeal, particularly among the younger demographic, THT is the largest-selling English broadsheet in Nepal. The newspaper is recognized for its comprehensive coverage, analysis, and opinions on various subjects such as news, politics, business, technology, culture, lifestyle, and more. THT upholds principles of responsible journalism, supporting freedom of expression and a free press while providing a platform for marginalized voices.

    HTMETL, in addition to its media ventures, organizes prestigious events in Nepal, including TGIF Nepal Fashion Week, The Himalayan Times Brandfest, and The Himalayan Times International Food Festival, with plans for more events in the pipeline. Through its website, HTMETL reaches millions of readers each month, maintaining its position as the top English news site in Nepal.

  • Vishal Group Limited Initiates Auction of 15,00,000 Promoter Shares of Nepal Reinsurance Company Limited (NRIC) with NIC Asia Capital as Auction Manager

    Vishal Group Limited Initiates Auction of 15,00,000 Promoter Shares of Nepal Reinsurance Company Limited (NRIC) with NIC Asia Capital as Auction Manager


    Vishal Group Limited has initiated the auction of 15,00,000 units of promoter shares belonging to Nepal Reinsurance Company Limited (NRIC). The auction, which commenced today on the 24th of Poush, is set to continue until the 29th of Magh, 2080.

    The auction specifically involves 15,00,000 units of promoter shares from Nepal Reinsurance Company Limited, and it is open to interested promoter shareholders who are eligible to participate in the bidding process. The minimum bid rate for these shares is set at Rs. 325. Participants in the auction must bid for a minimum quantity of 2,00,000 units, with the maximum bid capped at 15,00,000 units.

    NIC Asia Capital Limited has been appointed as the auction manager overseeing the entire process.

    As of the latest available information, Nepal Reinsurance Company Limited (NRIC) is currently trading at a Last Traded Price (LTP) of Rs. 682.90.

  • Kumari Bank Limited Initiates Promoter Share Auction: Exclusive Opportunity for Existing Shareholders

    Kumari Bank Limited Initiates Promoter Share Auction: Exclusive Opportunity for Existing Shareholders


    The current promoters of Kumari Bank Limited (KBL) have initiated an auction for the sale of 3,40,016 units of shares exclusively to the existing promoter shareholders. The sellers include Srijana Paneru Neupane, who plans to sell 3,33,702 units, Hari Bahadur Thapa with an intention to sell 1,050 units, and Tarka Bahadur Budhathoki aiming to sell 5,264 units of promoter shares. Prospective buyers are invited to submit their bids within 35 days from the date of this notice’s publication, which is December 12th, 2023.

    Interested shareholders are required to place their bids at the central office of Kumari Bank Limited, situated in Naxal, Kathmandu. If there are no bids received from the existing founder shareholders within the specified time frame, the shares will subsequently be made available for auction to the general public.

    As of December 27th, 2023, Kumari Bank Limited (KBL) concluded trading at a closing price of Rs. 160.90. Additionally, the Kumari Bank Limited Promoter Share (KBLPO) recorded a Last Traded Price (LTP) of Rs. 108.00 as of December 20th, 2023.

  • Prudential Capital Initiates Auction of Shine Resunga Development Bank Promoter Shares

    Prudential Capital Initiates Auction of Shine Resunga Development Bank Promoter Shares


    Prudential Capital Management Company Limited has initiated the auction of 2,04,537 units of promoter shares belonging to Shine Resunga Development Bank Limited (SHINE). The auction commenced on the 11th of Poush, 2080.

    In this auction, the specified quantity of promoter shares for SHINE is 2,04,537 units, with a minimum bidding rate set at Rs. 120 per unit. Interested bidders must adhere to the minimum bid quantity of 5,000 units for promoter shares, while also complying with the Nepal Rastra Bank’s regulation limiting the share quantity per entity. The auction is open for participation by promoter shareholders, the general public, and institutions until the 19th of Poush.

    The auction management responsibility falls on NIC Asia Capital Limited.

    As of the latest available information, SHINE has a Last Traded Price (LTP) of Rs. 398.90.

  • Sarbottam Cement Makes History with SEBON Approval for First Book-Building IPO in Nepal

    Sarbottam Cement Makes History with SEBON Approval for First Book-Building IPO in Nepal


    The Securities Exchange Board of Nepal (SEBON) has given its approval to the initial public offering (IPO) proposal of Sarbottam Cement Limited on Poush 3, 2080. Notably, this marks the first instance of a company issuing an IPO under the book-building system in Nepal. Sarbottam Cement Limited has been granted permission to release 3,600,000 unit shares to the general public at a bid price of NPR 360.9 each, constituting 7.74% of the company’s issued capital, which amounts to Rs 4.65 arba. The IPO is expected to generate a total of Rs. 1.29 Arba for the company.

    Prior to this approval, the cement company adhered to guidelines by conducting its primary share issuance through the book-building process for Qualified Institutional Investors (QII) from the 6th to the 10th of Mangsir, 2080. The allotment process took place on the 11th Mangsir, during which 41 eligible institutional investors applied for 36,19,190 unit shares against the initially offered 24 lakh units.

    In total, Sarbottam Cement plans to issue 12.9033% of its issued capital, amounting to Rs 4.65 Arba, equivalent to 60 lakh shares or 60 crore. Out of this, 40% (24 lakh shares) has already been issued and allotted to Qualified Institutional Investors (QIIs), with the remaining 60% (36 lakh shares) set to be issued to the general public later.

    The ‘cut-off price’ plays a crucial role in IPOs conducted under the book-building process. During the primary shares allotment to qualified institutional investors, the ‘cut-off price’ for Sarbottam Cement was established at Rs 401. Following regulatory guidelines, shares are offered to the general public at a discounted rate, specifically 10% lower than the ‘cut-off’ price. For Sarbottam Cement, this translates to Rs 360.90 per share for common investors.

    Prospective investors are required to apply for a minimum of 50 units during the book-building process, and they are expected to allocate at least Rs 18,045 to participate in this offering. Global IME Capital is overseeing the management of the IPO for Sarbottam Cement.

    Additionally, ICRA Nepal has reaffirmed Sarbottam Cement Limited’s issuer rating as [ICRANP-IR] BBB+ and has maintained the long-term rating at [ICRANP] LBBB+ along with a short-term rating of [ICRANP] A2 for Sarbottam’s bank loan limits.

  • “Auction Alert: Shree Ganesh Properties Initiates Auction of Himalayan Life Insurance Promoter Shares”

    “Auction Alert: Shree Ganesh Properties Initiates Auction of Himalayan Life Insurance Promoter Shares”


    Shree Ganesh Properties & Investment Private Limited has initiated the auctioning of 1,24,833 promoter shares of Himalayan Life Insurance Limited (HLI), starting from the 1st to the 6th of Poush, 2080.

    During this auction, a total of 1,24,833 promoter shares of HLI are available for bidding, with a minimum bid quantity set at 10,000 units. Bidders are required to adhere to the regulations of the Nepal Insurance Authority, ensuring that the specified quantity of shares per entity is not exceeded. Eligible participants for the auction include interested promoter shareholders, the general public, and institutions. The minimum bid rate for the auction has been set at Rs. 250. Investors interested in participating in the auction should submit their bids at the central office of NIC Asia Capital Limited, located at Thapathali-11, Kathmandu, specifically on the 4th floor of Trade Tower.

    NIC Asia Capital Limited is appointed as the auction manager for this particular issue. As of the latest update, Himalayan Life Insurance Limited has a Last Traded Price (LTP) of Rs. 446.

    A formal Auction Notice has been issued to provide detailed information and guidelines for interested parties.

  • Kamana Sewa Bikas Bank Limited Initiates Auction of 5,09,892 Promoter Shares: Exclusive Opportunity for Former Promoter Shareholders

    Kamana Sewa Bikas Bank Limited Initiates Auction of 5,09,892 Promoter Shares: Exclusive Opportunity for Former Promoter Shareholders


    The current promoters of Kamana Sewa Bikas Bank Limited (KSBBL) have initiated the auction of 5,09,892 units of shares, starting from the 25th of Mangsir, 2080. This auction is exclusively open to interested former promoter shareholders of the bank. Eligible bidders have a 35-day window from the publication date of this notice, which is also the 25th of Mangsir, to submit their bids. Bids should be submitted at the central office of the bank, situated in Gyaneshwor, Kathmandu.

    In the event that no bids are received from the existing former promoter shareholders within the stipulated timeframe, the shares will subsequently be made available for auction to the general public. The closing price of KSBBL stood at Rs. 318 in the previous trading session. It is noteworthy that as of the 15th of August, 2023, KSBBLP (presumably referring to the bank’s promoter shares) has a Last Traded Price (LTP) of Rs. 156.00.

    This auction notice outlines the terms and conditions for former promoter shareholders to participate in the bidding process, emphasizing the specific timeframe and location for bid submission. The market values of KSBBL and KSBBLP provide additional context to potential bidders regarding the current financial standing of the bank and its promoter shares.

  • NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares

    NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares


    “NIC Asia Bank Limited Initiates Auction for SKBBL Promoter Shares”

    Commencing from the 24th of Mangsir to the 29th of Poush, 2080, NIC Asia Bank Limited (NICA) has initiated an auction for the promoter shares of Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited (SKBBL).

    The auction involves 3,92,657 units of SKBBL promoter shares and is open to qualified interested promoter shareholders of Sana Kisan Co-operative and other promoter shareholders. However, the notice stipulates that priority will be given to Sana Kisan Co-operative. The minimum bid rate for the auction is set at Rs. 348, with a minimum bid quantity of 1,000 units for promoter shares.

    While bidders have the option to bid for the entire issue, they are required to adhere to the Nepal Rastra Bank’s regulations, ensuring that the specified quantity of shares per entity is not exceeded. NIC Asia Capital has been appointed as the auction manager for this issue.

    As of the latest update, SKBBL has a Last Traded Price (LTP) of Rs. 881.

  • Sarbottam Cement Launches IPO for Qualified Institutional Investors with Revised Pricing Strategy

    Sarbottam Cement Launches IPO for Qualified Institutional Investors with Revised Pricing Strategy


    Sarbottam Cement Limited has initiated its Initial Public Offering (IPO) through the book-building process exclusively for Qualified Institutional Investors (QIIs), starting on the 6th of Mangsir. In this initial phase, the company aims to issue 24,00,000 unit shares to QIIs, with the IPO closing on the 10th of Mangsir, 2080. The company has specified this timeframe for QIIs to participate in the bidding process.

    The company’s total issued capital is Rs. 4.65 Arba, of which 12.9033% (60,00,000 unit shares) will be offered to the public, comprising Qualified Institutional Investors (QIIs) and the general public. Out of this, 40% (24,00,000 shares) will be allocated to Qualified Institutional Investors from the start of the IPO. The preliminary bid submitted by QIIs on 24th Asad suggested a price range of Rs. 501 to Rs. 751.50 per share. However, after a price revision, QIIs can now apply for the IPO with a maximum bid of Rs. 601.50 and a minimum of Rs. 401.

    Upon the issuance of IPO shares, they will be traded at the determined cut-off price, which may vary from the base price of Rs. 501.25 based on investor demand. Following this, the general public will receive shares at a 10% discounted price from the company, calculated based on the minimum cut-off rate of QIIs. For instance, if the QII cut-off rate is Rs. 401, the issue rate for the general public’s 36 lakh units would be 10% less, i.e., Rs. 360.9 per share.

    Global IME Capital Limited is overseeing the comprehensive issuance process for the cement company. ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BBB+ to Sarbottam Cement Limited, along with a long-term rating of [ICRANP] LBBB+ and a short-term rating of [ICRANP] A2 for Sarbottam’s bank loan limits.

    Established in October 2010 as a private limited company and converted into a public limited company in July 2019, Sarbottam Cement Limited is engaged in clinker and cement production and sales. The majority of its shareholding is held by the Saurabh Group, a prominent business entity in Nepal. The company’s manufacturing facility is located in Ramnagar VDC-05, Nawalparasi district, specializing in the production of OPC and PPC cement under the brand “Sarbottam.”