Tag: Limited

  • 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.

  • Shiva Shree Hydropower Limited Reports Q3 Net Loss

    Shiva Shree Hydropower Limited Reports Q3 Net Loss


    Shiva Shree Hydropower Limited (SSHL) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 23.79 crores. In comparison, the company had incurred a loss of Rs. 28.90 crores during the corresponding quarter of the previous fiscal year.

    Despite reducing its administrative and other expenses by 46.03% to Rs. 3.36 crores up to the third quarter of the ongoing fiscal year, SSHL has witnessed an increase in financial expenses from Rs. 27.75 crores to Rs. 31.93 crores. This rise in financial expenses has adversely affected the company’s profitability.

    On a positive note, SSHL has achieved a 49.55% increase in revenue generation from the sale of electricity, amounting to Rs. 26.80 crores up to the third quarter of FY 079/80.

    SSHL maintains a paid-up capital of Rs. 1.47 Arba but has a negative reserve and surplus.

    However, the company’s earnings per share (EPS) ratio stands at a negative Rs. -16.12, and its net worth per share is below par at Rs. 59.73.

    According to the company’s management analysis, SSHL has not been able to improve liquidity and balance since the second quarter of FY 2079/80, which has negatively impacted its profitability.

    Furthermore, the company reports that its Upper Chaku A Hydropower Project, with a capacity of 22.2 MW, located in Bhote Koshi rural municipality of Sindhupalchok district, has commenced commercial operation from 2078/02/01.

  • City Hotel Limited Concludes IPO Allotment, Oversubscribed by 8.72 Times

    City Hotel Limited Concludes IPO Allotment, Oversubscribed by 8.72 Times


    City Hotel Limited has successfully concluded the initial public offering (IPO) allotment process at Hyatt Place in Soalteemode, Kathmandu. The company had offered 13,55,940 units of shares with a total value of Rs. 13.55 crores to the general public from Baisakh 25 to 28, 2080.

    Out of the total 16,74,000 units, 10% (1,67,400 units) were allotted to Nepalese citizens working abroad, while 4% (66,960 units) were set aside for the company’s employees. Additionally, 5% of the offered shares (83,700 units) were reserved for mutual funds. The remaining 13,55,940 units were made available for the general public.

    Following the IPO allotment, the company’s total paid-up capital would amount to Rs. 1.67 Arba.

    Global IME Capital Limited was appointed as the issue manager for the IPO issuance. The company received applications from 10,87,675 valid applicants, with a total demand for 1,18,33,710 units. The IPO was oversubscribed by more than 8.72 times.

    Based on the allotment module, a total of 1,35,594 applicants were allotted 10 units each through a lottery system, while the remaining 9,52,081 applicants were not allocated any units.

    Furthermore, 83,700 units were allotted to mutual funds, and 66,960 units were allocated to the employees of the company. However, 4,992 applicants who had applied for 61,660 units were disqualified and did not receive any shares.

  • Liberty Energy Company Limited Reports Net Loss in Q3

    Liberty Energy Company Limited Reports Net Loss in Q3


    Liberty Energy Company Limited (LEC) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 7.99 crores. In the corresponding quarter of the previous fiscal year, the company had incurred a loss of Rs. 1.99 crores.

    The financial expense for LEC amounted to Rs. 14.17 crores, which the company attributed to various force majeure events occurring during the construction period. These events have adversely affected the company’s profitability.

    On the positive side, LEC generated revenue of Rs. 13.11 crores from the sale of electricity. Additionally, the company’s administrative and other operating expenses have significantly decreased by 65.23%, reducing to Rs. 57.05 lakhs up to the third quarter of the current fiscal year.

    LEC maintains a paid-up capital of Rs. 1.50 Arba. However, the company’s financial performance is reflected in its negative earnings per share (EPS) ratio of -5.33 and a below-average net worth per share of Rs. 83.03.

    At the end of the third quarter of FY 2079/2080, the closing price of LEC’s shares stood at Rs. 270.

    The Upper Dordi “A” Hydropower Project, owned by LEC and located in Lamjung district, has been in continuous operation during the third quarter. As per the implementation of Nepal Financial Reporting Standards (NFRS), all overhead costs not directly attributable to the project or its construction have been transferred to the profit or loss account, resulting in a negative EPS. The commercial operation of the project began in Mangsir, 2079.

    LEC has also completed the feasibility study and Initial Environmental Examination (IEE) for other projects, namely the Badigad Khola Hydropower Project (24.6 MW) in Baglung and the Lodo Hydropower Project (1.6 MW) in Lamjung. The company has applied for the generation license at the Department of Electricity Development (DOED) for these projects.

    During the 13th Annual General Meeting (AGM) held on Baisakh 25, 2080, under the leadership of Mr. Kush Kumar Joshi, the chairman of the company, LEC’s proposal to issue 50% of right shares worth Rs. 75 crores to existing shareholders was approved.

  • SAHAS Urja Limited Reports Reduced Net Profit in Q3

    SAHAS Urja Limited Reports Reduced Net Profit in Q3


    Sahas Urja Limited (SAHAS) has released its revised third-quarter report for the fiscal year 2079/80. The company’s net profit for this quarter has decreased to Rs. 26.51 crores compared to Rs. 58.13 crores in the same quarter of the previous fiscal year.

    SAHAS has generated revenue of Rs. 21.80 crores from the sale of electricity. However, the company has experienced a significant increase in administrative expenses, reaching Rs. 1.67 crores by the end of the third quarter. Additionally, finance expenses for the company amounted to Rs. 14.71 crores during Q3 of FY 079/80.

    The paid-up capital of SAHAS is Rs. 3.50 Arba, and it has Rs. 2.36 Arba in reserves and accumulated profit. The company’s earnings per share (EPS) ratio is Rs. 10.10, and the net worth per share is Rs. 167.53. The quarter-end price-to-earnings (P/E) ratio for SAHAS is 69.03 times. At the end of the third quarter, the company’s closing stock price was Rs. 518.

    SAHAS has completed the construction and testing of the 83 MW Solukhola (Dudhkoshi) Hydropower project in Solukhumbu. The commercial production of electricity from this project began on 2079/11/17. The company has billed the Nepal Electricity Authority for the electricity sales, and the payments are currently being made by NEA.

    According to the management analysis of SAHAS, the other income mentioned in the financial statement is not real, as it is generated by applying the principles of IFRIC 12: Service Concession Arrangement based on the NFRS system.

  • Aviyan Laghubitta Bittiya Sanstha Limited (AVYAN) Reports Net Loss in Third-Quarter Results, Highlighting Financial Challenges

    Aviyan Laghubitta Bittiya Sanstha Limited (AVYAN) Reports Net Loss in Third-Quarter Results, Highlighting Financial Challenges


    Aviyan Laghubitta Bittiya Sanstha Limited (AVYAN) has recently released its third-quarter report, revealing a significant shift from profit to a Net Loss of Rs. 1.21 crores compared to the profit of Rs. 1.02 crores earned in the corresponding quarter of the previous fiscal year.

    The company’s core revenue source, Net Interest income, experienced a decline of 18.26%, amounting to Rs. 3.28 crores up to the third quarter of the ongoing fiscal year. This decrease in Net Interest income has adversely affected the profitability of AVYAN.

    One concerning aspect in the report is the substantial increase in Non-Performing Loans (NPL), which rose to 4.61% in the third quarter of FY 2079/80, compared to only 0.45% in the corresponding quarter of FY 2078/79. This rise in NPL has further impacted the company’s profitability.

    Another notable change is the doubling of the Cost of Funds, which reached 13.90% in Q3 of the ongoing fiscal year. This increase has added to the financial challenges faced by AVYAN.

    The staff expenses of the financial institution have witnessed a sharp spike of 94.13%, amounting to Rs. 5.31 crores up to the third quarter, in contrast to Rs. 2.73 crores in the corresponding quarter of the previous fiscal year. This surge in staff expenses has added to the financial burden of the company.

    AVYAN currently maintains a paid-up capital of Rs. 25 crores, with reserve and surplus funds amounting to Rs. 2.19 crores. However, the company reports a negative Earnings per Share (EPS) ratio of Rs. -6.50 and a Net Worth of Rs. 108.79.

    The closing price of AVYAN’s shares at the end of the third quarter of the ongoing fiscal year stood at Rs. 619.9. The third-quarter report highlights the challenges faced by AVYAN, with a significant shift from profit to a net loss and various financial indicators pointing towards a decline in performance.

  • Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results, Showing Strong Financial Performance

    Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results, Showing Strong Financial Performance


    Salt Trading Corporation Limited (STC) has recently published its third-quarter report for the ongoing fiscal year, revealing a nearly twofold increase in Net Profit, amounting to Rs. 3.71 crores. The company’s primary revenue source, sales, demonstrated a noteworthy growth of 17.44%, reaching Rs. 5.77 Arba. However, the selling expenses experienced a more significant surge of 21.65%, totaling Rs. 5.07 Arba during the third quarter of FY 2079/80.

    During the same period, STC observed a 12.51% rise in staff expenses and a 15.84% increase in administrative expenses compared to the corresponding quarter of FY 2078/79. On a positive note, the company’s Interest Expenses witnessed a substantial decrease of 35.44%, declining to Rs. 27.25 crores from Rs. 42.16 crores in the previous fiscal year’s third quarter. This reduction in interest expenses played a role in enhancing the company’s overall profitability.

    STC currently maintains a paid-up capital of Rs. 25.35 crores and possesses reserve and surplus funds amounting to Rs. 1.35 Arba. Additionally, the company holds property, plant, and equipment valued at Rs. 1.46 Arba, which remained relatively stable compared to the corresponding amount in the third quarter of the previous fiscal year.

    With an impressive Earnings per Share (EPS) ratio of Rs. 19.52 and a Net Worth of Rs. 632.89, STC exhibits positive financial indicators in its third-quarter report. The significant increase in Net Profit, coupled with improved revenue and reduced interest expenses, signifies the company’s strong performance and its commitment to maintaining a robust financial position.

  • Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results

    Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results


    Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) has recently distributed 20% bonus shares directly to the DEMAT accounts of its shareholders. The company encouraged its shareholders to dematerialize their shares in order to receive the bonus shares smoothly.

    During the 6th Annual General Meeting held on the 11th of Chaitra, the shareholders of SMFBS approved a dividend of 21.0526% amounting to Rs. 2.56 Crores for the fiscal year 2078/79. In a subsequent board of directors meeting on Magh 11, it was decided to distribute the dividend on the paid-up capital of Rs. 12.17 Crores. The proposed distribution plan included 20% bonus shares and 1.0526% cash dividend (for tax purposes).

    Following these decisions, the bonus shares have now been deposited directly to the DEMAT accounts of the shareholders. This simplifies the process for shareholders to receive and manage their bonus shares electronically, without the need for physical share certificates.

    By distributing the bonus shares to DEMAT accounts, SMFBS aims to facilitate a more efficient and secure method of shareholding for its investors. It encourages shareholders to embrace the dematerialization process and enjoy the benefits of holding their shares in electronic form.

    Overall, the distribution of 20% bonus shares to the DEMAT accounts of shareholders reflects SMFBS’s commitment to rewarding its investors and promoting the modernization of shareholding practices. It provides shareholders with the opportunity to conveniently manage their bonus shares and participate in the company’s growth and future prospects.

  • Listing of 41,840,000 Shares of Sanima Reliance Life Insurance Limited (SRLI) on NEPSE

    Listing of 41,840,000 Shares of Sanima Reliance Life Insurance Limited (SRLI) on NEPSE


    Sanima Reliance Life Insurance Limited (SRLI) has recently listed 41,840,000 shares on the Nepal Stock Exchange (NEPSE) following a successful merger between Reliance Life Insurance Limited (RLI) and Sanima Life Insurance Company Limited (SLI).

    The merger agreement between SLI and RLI was signed on 29th Ashad, 2079. Under the terms of the merger, the swap ratio was set at 1:1. Prior to the merger, SLI had a total of 20,840,000 listed shares, while RLI had 21,000,000 listed shares, resulting in a combined total of 41,840,000 unit shares after the merger.

    After the merger, SLI and RLI began operating jointly under the name Sanima Reliance Life Insurance Limited (SRLI) starting from Chaitra 09, 2079. Consequently, the listed shares of SRLI will be traded on the NEPSE under the symbol “SRLI.”

    For the initial transactions, the open price range for SRLI shares has been set at Rs. 391.88. This range represents the price at which the first trades of SRLI shares will take place on the NEPSE. It is important to note that the actual traded prices may vary based on market conditions and investor demand.

    The listing of 41,840,000 shares of Sanima Reliance Life Insurance Limited on the NEPSE marks a significant milestone in the merger between SLI and RLI. It signifies the consolidation of their operations and the creation of a unified entity that will provide insurance services under the SRLI brand. Investors and shareholders can now actively participate in trading SRLI shares, leveraging the opportunities and potential offered by the merged company in the insurance sector.

  • Listing of 11,15,733.6648 Unit Bonus Shares of Miteri Development Bank Limited on NEPSE

    Listing of 11,15,733.6648 Unit Bonus Shares of Miteri Development Bank Limited on NEPSE


    Miteri Development Bank Limited (MDB) has recently listed 11,15,733.6648 unit bonus shares on the Nepal Stock Exchange (NEPSE). This listing comes after the company’s 17th Annual General Meeting held on 27th Poush, where the shareholders approved a 13% dividend for the fiscal year 2078/79.

    During the 224th board of directors meeting on Mangsir 19, 2079, it was decided that MDB would distribute a 13% dividend on its paid-up capital, which amounts to Rs. 90.34 Crores. The distribution plan included 12.35% bonus shares worth Rs. 11,15,73,366.67 and a 0.65% cash dividend (including tax) worth Rs. 58,72,282.46.

    These bonus shares, along with the cash dividend, have now been officially listed on the NEPSE. Investors and shareholders can now trade and transact these bonus shares on the stock exchange. It is worth noting that bonus shares are additional shares distributed to existing shareholders, typically as a form of dividend, based on the number of shares they already hold.

    As of the time of writing, MDB’s Last Traded Price (LTP) on the NEPSE stands at Rs. 375.1. This price reflects the current market value of the company’s shares and may fluctuate based on supply and demand dynamics in the stock market. Investors and traders interested in MDB can track its share price and make informed decisions regarding buying, selling, or holding the stock.

    The listing of bonus shares on the NEPSE provides an opportunity for shareholders to further benefit from their investment in MDB. It allows them to trade these bonus shares as per their investment strategy and take advantage of potential price movements in the stock market. Moreover, the listing enhances the liquidity and marketability of MDB’s shares, contributing to a more active and dynamic trading environment on the NEPSE.

    Overall, the listing of 11,15,733.6648 unit bonus shares of Miteri Development Bank Limited on the NEPSE reflects the company’s commitment to delivering value to its shareholders. It provides them with additional options to realize returns from their investments and participate actively in the stock market.

  • NEPSE Index Gains 1.28% as SHIVAM CEMENTS LTD Tops Trading, Aatmanirbhar Laghubitta Bittiya Sanstha Limited Hits Positive Circuit

    NEPSE Index Gains 1.28% as SHIVAM CEMENTS LTD Tops Trading, Aatmanirbhar Laghubitta Bittiya Sanstha Limited Hits Positive Circuit


    The NEPSE (Nepal Stock Exchange) index concluded today’s trading session at 1,845.01, showing a gain of 23.39 points compared to the previous closing, representing a 1.28% increase. The index had also experienced a gain of 3.29 points in the preceding trading session.

    Starting the day at 1,821.54, the index reached an intraday low of 1,821.02 but surged to a high of 1,846.72 before settling at 1,845.01 at the closing bell.

    During the trading day, a total of 266 stocks were traded through 25,634 transactions. The trading volume amounted to 2,577,210 shares, with a turnover of Rs. 85.76 Crores. This marked an increase in turnover compared to the previous trading day’s turnover of Rs. 64.01 Crores.

    Among the traded stocks, SHIVAM CEMENTS LTD (SHIVM) recorded the highest turnover of Rs. 5.46 crores, closing at a market price of Rs. 403.50 per share.

    Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) experienced the highest gain of 9.99% and reached the positive circuit for the day.

    In contrast, Mai Khola Hydropower Limited (MKHL) suffered the highest decline of 7.93% during today’s trading.

    All sector indices concluded the day in positive territory, with the “Others” sector witnessing the highest gain of 2.37%, while the “Mutual Fund” sector registered the smallest gain of 0.04%.

  • 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.