Tag: Limited

  • “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”

    “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”


    Upper Lohore Hydropower Company Limited has provided updates regarding its initial public offering (IPO) of shares. The IPO is now closed to Nepalese citizens working abroad as of the 21st of Ashad, 2080. However, the deadline for project-affected locals in the Dailekh District has been extended until the 5th of Shrawan. The IPO process started on the 7th of Ashad, 2080.

    The company’s issued capital is Rs. 50.98 Crores, with 10% of the shares, worth Rs. 5.09 crores, allocated to project-affected locals in Dailekh District. Another 39% of the company’s issued capital, equivalent to 19,88,236 units, will be offered to the general public at a later date. Within the public issue, 10% of the shares, totaling 198,824 units, are reserved for Nepalese citizens working abroad, and the closing date for their participation is today.

    The minimum application quantity for both project-affected locals and Nepalese citizens working abroad is 10 units, while the maximum is 25,000 units.

    NIC Asia Capital Limited is the appointed issue manager, and after the IPO, the promoter-public share ratio will be 51:49.

    According to the Central Depository System and Clearing Limited (CDSC), 23,846 applications have been received from Nepalese citizens working abroad, with a total of 585,570 units applied for so far.

    The Upper Lohore Hydropower Company Limited has been assigned a ‘CARE-NP BB- (Is)’ rating by Credit Rating Nepal Limited (CRNL), indicating a moderate risk of default regarding financial obligations in Nepal.

    Established as a private limited company on November 10, 2017, the Upper Lohore Hydropower Company Limited has since become a public limited company. The company’s main focus is the development of the Upper Lohore Hydropower Project in the Dailekh district, with a capacity of 4MW as a run-of-the-river type project.

  • Announcement: Nepal Infrastructures Investment Fund Limited Calls 1st Special General Meeting to Discuss Key Agendas and Shareholder Participation

    Announcement: Nepal Infrastructures Investment Fund Limited Calls 1st Special General Meeting to Discuss Key Agendas and Shareholder Participation


    Nepal Infrastructures Investment Fund Limited has announced its plans to hold the 1st Special General Meeting (SGM) on the 7th of Shrawan, 2080. The meeting will take place in Jhamsikhel, Lalitpur, and is scheduled to commence at 10 am on the aforementioned day.

    The SGM will address several important agendas that require the attention and participation of the shareholders. Firstly, there will be a proposal to amend the Articles of Association, which are the fundamental rules governing the company’s operations. This suggests that certain changes or updates are being considered to ensure the smooth functioning and adaptability of the organization.

    Additionally, another significant item on the agenda is the issuance of 100% right shares from the company’s paid-up capital. This means that existing shareholders will have the opportunity to acquire additional shares in proportion to their existing holdings. The Board of Directors (BODs) will be entrusted with the responsibility of overseeing this process, granting them full authority in its execution.

    Furthermore, the meeting aims to discuss the recruitment of strategic founding investors following the issuance of the right shares. This indicates the company’s intention to bring in new investors who can contribute strategically to the growth and development of the organization. By attracting these investors, Nepal Infrastructures Investment Fund Limited aims to strengthen its financial position and gain valuable expertise and resources.

    It is important to note that the book closure date has been set for Ashad 28. This means that only shareholders registered before this date will be eligible to attend the SGM. Therefore, shareholders are urged to ensure their registration is completed before Ashad 28 to participate in this significant meeting.

    Overall, the 1st Special General Meeting of Nepal Infrastructures Investment Fund Limited holds great importance for the company and its shareholders. The proposed agendas, including the amendment of the Articles of Association, issuance of right shares, and recruitment of strategic founding investors, reflect the company’s efforts to enhance its operations and secure a strong financial foundation for future growth.

  • “Ngadi Group Power Limited Proposes 100% Rights Shares for Shareholders to Address Funding Requirements”

    “Ngadi Group Power Limited Proposes 100% Rights Shares for Shareholders to Address Funding Requirements”


    Ngadi Group Power Limited (NGPL) has proposed to offer 100% rights shares to its existing shareholders. The proposal was made during a recent Board of Directors meeting.

    NGPL’s Siurikhola Small Hydropower Project, located in Lamjung District, Gandaki Province, with a capacity of 4.95 MW, has been performing well due to regular maintenance. However, additional funds are needed to maintain existing projects, settle payments, invest in new projects, attract investments, create jobs, and increase national capital.

    To address this funding requirement, NGPL aims to issue rights shares in a 1:1 ratio to its current shareholders. This will increase the company’s paid-up capital from Rs. 1.85 Arba to Rs. 3.7 Arba.

    Approval from the Electricity Regulatory Commission and subsequent endorsement at the Annual General Meeting (AGM) are necessary for the issuance of the rights shares.

    NGPL had previously issued 150% rights shares to its shareholders.

    As of July 02, NGPL shares were trading at Rs. 241.

  • Reliable Nepal Life Insurance Receives Permission for IPO at Premium

    Reliable Nepal Life Insurance Receives Permission for IPO at Premium


     

    Reliable Nepal Life Insurance has received approval from the Securities Board of Nepal (SEBON) to launch an initial public offering (IPO) with a premium. The IPO will offer shares at a price of Rs 257 per share, including a premium of Rs 157 above the face value of Rs 100. A total of 1.2 crore unit shares, valued at Rs 2,989,800,800, will be issued, representing 30 percent of the company’s paid-up capital. Civil Capital Market Limited has been appointed as the issue manager for the share offering. Currently, the company’s promoters hold a 70 percent stake in the company.

  • Existing Promoter of Himalayan Bank Limited Initiates Auction of 21,86,575 Shares for Promoter Shareholders

    Existing Promoter of Himalayan Bank Limited Initiates Auction of 21,86,575 Shares for Promoter Shareholders


    The current promoter of Himalayan Bank Limited (HBL) has initiated an auction process for 21,86,575 units of shares. This auction is exclusively available to existing promoter shareholders and commenced on the 7th of Jestha, 2080.

    The auction specifically targets existing promoters, who have the opportunity to submit their bids within a period of 35 days starting from the publication date of the notice, which is also the 7th of Jestha. Shareholders interested in participating in the auction are required to submit their bids at the central office of the bank, situated in Kamaladi, Kathmandu.

    In the event that no bids are received from existing founder shareholders within the designated timeframe, the shares will be subsequently auctioned to the general public. This ensures that if the existing promoters do not partake in the auction, the opportunity to acquire the shares will be extended to a broader audience.

    The auction process provides a mechanism for existing promoters of Himalayan Bank Limited to potentially increase their ownership stake in the bank. Additionally, it opens up the possibility for new shareholders, including the general public, to invest in the bank and participate in its growth and development.

  • NEPSE Index Sees Minor Decline of 0.14% as Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) Faces Significant Loss

    NEPSE Index Sees Minor Decline of 0.14% as Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) Faces Significant Loss


    The NEPSE index concluded the trading day at 2,091.39 points, experiencing a slight decline of 2.94 points from the previous day’s closing. This translates to a loss of 0.14%. In contrast, the index had recorded a significant gain of 52.26 points in the previous session.

    At the start of the trading day, the index opened at 2,097.53 points and reached its highest point at 2,107.60. However, it also dipped to a low of 2,075.21 before ultimately settling at 2,091.39 at the closing bell.

    A total of 276 different stocks were traded, with a considerable number of 69,168 transactions taking place. Throughout these trades, a significant volume of shares, totaling 12,975,168, were exchanged, resulting in a turnover amount of Rs. 4.74 Arba. This represents a decrease in turnover compared to the previous trading day, which recorded a turnover of Rs. 4.86 Arba.

    SHIVAM CEMENTS LTD (SHIVM) stood out with the highest turnover of Rs. 29.82 crores, closing at a market price of Rs. 563.50 per share. The shares of HIDCLP also saw notable trading activity.

    Six stocks experienced an upward trend and hit the positive circuit for the day, reflecting a significant increase in their market value. On the other hand, Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) witnessed a substantial loss of 10% during today’s trading.

    Among the various sector indices, only five closed in the green, with the “Finance” sector showing the highest gain of 5.22%. However, the “Non-Life Insurance” sector recorded the highest loss of 2.48% for the day.

  • Asian Life Insurance Company Limited Lists 24,71,894.42 Unit Bonus Shares on NEPSE, LTP at Rs. 695

    Asian Life Insurance Company Limited Lists 24,71,894.42 Unit Bonus Shares on NEPSE, LTP at Rs. 695


    Asian Life Insurance Company Limited (ALICL) has successfully listed 24,71,894.42 unit bonus shares on the NEPSE (Nepal Stock Exchange). The company’s 15th Annual General Meeting (AGM), held on the 18th of Baisakh, approved an 8.947% dividend for the fiscal year 2078/79. Subsequently, in a meeting of the board of directors held on Falgun 30, it was decided to distribute 8.50% bonus shares valued at Rs. 24.71 crores and a 0.447% cash dividend (for tax purposes) valued at a little over Rs. 1.30 crores. These dividends were proposed from the paid-up capital of Rs. 2.90 Arba.

    Following the listing, the bonus shares of ALICL are now available for trading on the NEPSE. As of the current market data, the Last Traded Price (LTP) of ALICL stands at Rs. 695. Investors and traders can actively participate in the buying and selling of these shares in the stock market.

    The listing of the bonus shares on the NEPSE provides an opportunity for investors to benefit from the additional shares distributed by Asian Life Insurance Company Limited. It allows shareholders to enhance their ownership in the company and potentially realize gains as the company progresses.

  • Samudayik Laghubitta Bittiya Sanstha Limited Calls 9th AGM for Fiscal Year 2078/79

    Samudayik Laghubitta Bittiya Sanstha Limited Calls 9th AGM for Fiscal Year 2078/79


    Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) has scheduled its 9th Annual General Meeting (AGM) to take place on the 22nd of Ashad, 2080. The AGM will be held at The Dhulikhel Lodge Resort in Dhulikhel, Kavrepalanchowk, starting at 11 AM.

    One of the key agenda items to be discussed and endorsed during the meeting is the distribution of a 15% dividend for the fiscal year 2078/79. The board of directors has proposed to distribute the dividend based on the company’s paid-up capital of Rs. 13.20 crores. This includes 10% bonus shares worth Rs. 1.32 crores and a 5% cash dividend amounting to Rs. 66 lakhs. Additionally, the election of four directors from the promoter shareholding group and two directors from the public shareholding group will be conducted.

    The AGM will also cover the endorsement of the auditor’s report, including profit and loss statements, financial reports, and cash flow reports. An auditor for the fiscal year 2079/80 will be appointed, and full authority will be granted to the Board of Directors or a designated person to carry out any necessary tasks related to mergers, acquisitions, and amendments to the Articles of Association.

    It is important to note that the book closure date has been set for Ashad 14. Therefore, shareholders who are recorded before this date will be eligible for the dividend payout and are invited to attend the AGM.

  • Upper Syange Hydropower Limited Announces IPO for General Public

    Upper Syange Hydropower Limited Announces IPO for General Public


    Upper Syange Hydropower Limited has released its offer letter, signaling its intention to issue an Initial Public Offering (IPO) to the general public. The company plans to issue 539,500 unit shares with a face value of Rs. 100 each, starting from the 10th of Ashad, 2080. The goal is to raise Rs. 5.39 crore through this IPO. The initial closing date for the subscription is the 13th of Ashad, with a possible extension until the 24th of Ashad, 2080, if the issue is not fully subscribed.

    Out of the total 650,000 units, 10% (65,000 units) has already been allotted to Nepalese citizens working abroad, 5% (32,500 units) has been set aside for mutual funds, and 2% (13,000 units) has been allocated for the company’s employees. The remaining 539,500 units are available for the general public. Following the IPO issuance, the company’s paid-up capital will increase to Rs. 22 crores.

    Previously, the company had issued 2,20,000 unit shares worth Rs. 2.2 crores to project-affected locals in Lamjung District and 65,000 unit shares to Nepalese citizens working abroad. The promoter-public share ratio will be 60.45:39.55 after the completion of this IPO.

    Siddhartha Capital Limited has been appointed as the issue manager for the IPO. Interested applicants can apply for a minimum of 10 units and a maximum of 100,000 units.

    CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Upper Syange Hydropower Limited, indicating a moderate risk of default in meeting financial obligations in Nepal.

    Upper Syange Hydropower Limited, originally incorporated as Upper Syange Hydropower Private Limited on January 26, 2009, converted to a public limited company on March 30, 2017. The company is promoted by individual and institutional promoters from various backgrounds. It is currently working on the development of a 2.4 MW Run-of-River (RoR) Upper Syange Hydropower Project (USHP) in Lamjung district, following the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Kumari Bank Limited to Auction Promoter Shares to Existing Promoter Shareholders

    Kumari Bank Limited to Auction Promoter Shares to Existing Promoter Shareholders


    Kumari Bank Limited (KBL) has announced an auction of 2,68,949 units of shares to existing promoter shareholders, starting from today, the 31st of Jestha, 2080.

    The auction is exclusively open to the existing promoters of KBL, who will have a period of 35 days from the date of this notice to submit their bids. Eligible shareholders are required to submit their bids at the central office of the bank, located in Naxal, Kathmandu.

    The auction involves the sale of promoter shares, totaling 2,68,949 units of KBL. It presents an opportunity for existing promoters to acquire additional shares within the bank. The auction process will allow interested parties to determine the price they are willing to pay for the shares.

    As of the latest update, the Last Traded Price (LTP) of KBL shares stands at Rs. 164.80. This information provides shareholders with a reference point for evaluating the potential value of the shares being auctioned.

    By conducting the auction exclusively for existing promoter shareholders, Kumari Bank Limited aims to strengthen the promoter base and enhance their participation in the bank’s ownership structure. The auction presents an avenue for existing promoters to increase their stake in KBL and align their interests further with the bank’s long-term growth and success.

  • Himalayan Reinsurance Limited Reports Impressive Q3 Results

    Himalayan Reinsurance Limited Reports Impressive Q3 Results


    Himalayan Reinsurance Limited (HRL) has released its third-quarter financial report for the ongoing fiscal year 2079/80, showcasing a net profit of Rs. 25.44 crores. This marks an increase compared to the corresponding quarter of the previous fiscal year when the company earned Rs. 19.64 crores.

    Notably, HRL has experienced a significant surge in net premium, which has grown by a remarkable 612.61%. The net premium now amounts to Rs. 3.38 Arba as of Q3 of the current fiscal year.

    In terms of its financial reserves, HRL holds Rs. 13.69 crores in the insurance fund and Rs. 1.50 crores in the contingent fund.

    Furthermore, the company’s income from investments, loans, and other sources has witnessed growth, reaching Rs. 15.75 crores by the end of the third quarter of the current financial year.

    The annualized earnings per share (EPS) ratio of HRL stands at Rs. 4.85, reflecting its profitability, while the net worth per share is reported as Rs. 107.47.

    HRL maintains a paid-up capital of Rs. 7 Arba and has accumulated a reserve and surplus of Rs. 38.58 crores.

    These positive financial results demonstrate HRL’s strong performance and stability in the reinsurance sector, highlighting its ability to generate substantial profits and maintain a healthy financial position.

  • Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance

    Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance


    Nepal Republic Media Limited, the publication house behind Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is closing the issuance of its Initial Public Offering (IPO) today, on Jestha 30, 2080. The IPO opened on Jestha 26, 2080.

    The company has an issued capital of Rs. 96.75 crores, out of which 44.99% or 43,53,000 unit shares worth Rs. 43.53 crores have been allocated to the general public. Among these shares, 10% (4,35,300 units) were specifically issued to Nepalese citizens working abroad, while 4% (174,120 units) have been reserved for the employees of the company. Additionally, 5% (217,650 units) of the total shares on offer have been set aside for mutual funds. The remaining 35,25,930 units are available for the general public.

    Mega Capital Markets has been appointed as the issue manager for this IPO issuance. The minimum application quantity allowed for both the general public and Nepalese citizens working abroad is 10 units, while the maximum quantity is set at 500 units.

    According to the Central Depository System and Clearing Limited (CDSC), a total of 983,200 applicants have applied for a combined total of 10,743,740 units as of yesterday evening. This indicates that the IPO has been oversubscribed by a factor of 2.96 times so far.

    Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned Nepal Republic Media Limited an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. This rating suggests a higher risk of default in terms of timely financial obligations.

    Nepal Republic Media Limited, incorporated in August 2008 as New Republic Media Private Ltd and later converted to Nepal Republic Media Ltd in June 2021, is the first media sector company to issue an IPO to the general public. The company, founded by Mr. Binod Raj Gyawali, aims to disseminate news through its various publications.