Tag: Locals

  • Sarbottam Cement IPO Allots Shares to Locals; 73.28% Remain Unsubscribed

    Sarbottam Cement IPO Allots Shares to Locals; 73.28% Remain Unsubscribed


    Sarbottam Cement Limited has successfully completed the allocation of IPO shares intended for locals affected by industry in Nawalparasi District and mine excavation in Palpa District. The allocation was finalized today, on the 2nd of Falgun, 2080, at Global IME Capital’s office in Kathmandu, serving as the issue manager.

    The company offered a total of 9,30,000 units of IPO shares through a book-building process, priced at Rs. 360.90 per unit for the specified group of locals. The subscription period for this IPO took place from the 25th of Poush to the 25th of Magh, 2080. During this period, interested applicants were eligible to apply for a minimum of 50 units and a maximum of 10,000 units.

     

  • Deadline for Sarbottam Cement’s Local IPO Today

    Deadline for Sarbottam Cement’s Local IPO Today


     

    Sarbottam Cement plans to issue 12.9033% of its total issued capital, which amounts to Rs 4.65 billion. This equates to 6 million shares, valued at Rs 6 billion. Initially, 40% of these shares, totaling 2.4 million, were allocated to Qualified Institutional Investors (QIIs), leaving 60% for the general public.

    Of the 3.6 million shares designated for the public, 930,000 were distributed to locals affected by the industry in Nawalparasi District or by mining in Palpa District. The remaining 2.67 million shares were intended for Nepalese citizens employed abroad. Eventually, the remaining 2.403 million shares will be made available to the general public.

  • Sarbottam Cement Announces IPO for Industry-Affected Locals and Foreign Nepalese Immigrants, Following Successful QII Allotmen

    Sarbottam Cement Announces IPO for Industry-Affected Locals and Foreign Nepalese Immigrants, Following Successful QII Allotmen


    Sarbottam Cement Limited has issued an offer letter for an Initial Public Offering (IPO) targeting industry-affected locals of Nawalparasi District, mine excavation-affected locals of Palpa District, and Foreign Nepalese Immigrants. The IPO subscription period for the specified groups is set from 25th Poush to 10th Magh, 2080. Notably, if the issue remains undersubscribed for the industry-affected locals of Nawalparasi District and mine excavation-affected locals of Palpa District by the early closing date, it may be extended until Magh 25. However, there will be no extension for Foreign Nepalese Immigrants beyond the early closing date.

    Previously, Sarbottam Cement conducted the issuance of its primary shares through the book-building process for Qualified Institutional Investors (QII) from 6th to 10th Mangsir, 2080. The allotment for the 36,19,190 unit shares, against the initially offered 24 lakh units to eligible institutional investors, took place on the 11th Mangsir.

    The overall issuance plan involves Sarbottam Cement offering 12.9033% of its issued capital amounting to Rs. 4.65 Arba, equivalent to 60 lakh shares or 60 crores. Out of this, 40% (24 lakh shares) has already been issued and allotted to Qualified Institutional Investors, leaving the remaining 60% (36 lakh shares) for the general public.

    Among the general public shares, 9,30,000 units will be allocated to industry-affected locals of Nawalparasi District and mine excavation-affected locals of Palpa District. The remaining 26,70,000 units will be divided into two portions – 10% (2,67,000 units) for Nepalese citizens working abroad, and the remaining 24,03,000 units for the general public.

    Global IME Capital has been appointed as the issue manager, and applications can be submitted for a minimum of 50 units and a maximum of 10,000 units.

    The share price for common investors is set at Rs. 360.90 per share. The IPO is being conducted through the book-building method, where the ‘cut-off price’ during the primary shares allotment to Qualified Institutional Investors was Rs. 401. As per the guidelines, shares for the general public are offered at a 10% discount to the ‘cut-off’ price, resulting in Rs. 360.90 per share for common investors.

    ICRA Nepal has maintained its issuer rating of [ICRANP-IR] BBB+ and reaffirmed the long-term rating of [ICRANP] LBBB+ and the short-term rating of [ICRANP] A2 to Sarbottam Cement Limited.

  • Vision Lumbini Urja IPO Shares Allocated to Kaski Locals, Future Public Offering Planned

    Vision Lumbini Urja IPO Shares Allocated to Kaski Locals, Future Public Offering Planned


    Vision Lumbini Urja Company Limited has completed the allocation of its Initial Public Offering (IPO) shares to project-affected individuals in Kaski District. The distribution took place on Wednesday, 1st Kartik, at the office of Muktinath Capital Limited, the appointed issue manager for the IPO.

    The company’s total issued capital is Rs. 1.91 Arba, out of which 10% or 19,12,500 unit shares valued at Rs. 19.12 Crores were reserved for project-affected locals in Kaski District. An additional 10% of the company’s issued capital, equivalent to 19,12,500 unit shares, will be made available to the general public at a later date. Within this public issue, 10% of the shares, totaling 1,91,250 units, were specifically allocated for Nepalese citizens working abroad, and the subscription period for these shares concluded on 15th Ashwin, 2080.

    In an official notice, the company reported that approximately 14,24,590 units, or 74.48% of the total issued shares, have been allocated to eligible applicants. Consequently, the remaining 4,87,910 units will soon be offered to the general public, in addition to the 19,12,500 units earmarked for public issuance, representing 10% of the company’s issued capital.

    ICRA Nepal has reaffirmed its credit ratings for Vision Lumbini Urja Company Limited, maintaining a long-term rating of [ICRANP] LBB- and a short-term rating of [ICRANP] A4 for the company’s loan limits.

    Vision Lumbini Urja Company Limited is actively engaged in the development of the 25-MW Seti Nadi Hydroelectric Project, situated in the Machhapuchchhre rural municipality of Kaski District in the Gandaki Province of Nepal. The project is classified as a run-of-the-river (R-o-R) type and is designed to operate at a 44.5% probability of exceedance. This information provides an overview of the recent developments and financial standing of the company.

  • IPO Allotment: Chirkhwa Hydropower Allocates Shares to Project-Affected Locals on 8th Ashwin

    IPO Allotment: Chirkhwa Hydropower Allocates Shares to Project-Affected Locals on 8th Ashwin


    On Monday, Ashwin 8, the IPO of Chirkhwa Hydropower was allocated to residents affected by the project in Bhojpur District. The distribution of the company’s IPO took place at the office of RBB Merchant Banking Limited, which is overseeing the IPO issuance.

    Between Shrawan 28th and Bhadra 25th, the company had offered shares to project-affected locals in Bhojpur District, following approval from SEBON (Securities Board of Nepal). The company had issued a total of 400,000 shares, each with a face value of Rs 100, exclusively for these local residents. As per the notice, all 400,000 units were allotted to eligible applicants.

     

  • Mathillo Mailung Khola Jalbidhyut Allots IPO Shares to Project-Affected Residents in Rasuwa and Nuwakot Districts

    Mathillo Mailung Khola Jalbidhyut Allots IPO Shares to Project-Affected Residents in Rasuwa and Nuwakot Districts


    Mathillo Mailung Khola Jalbidhyut Limited has successfully allocated its Initial Public Offering (IPO) shares to local residents directly impacted by the project in Rasuwa and Nuwakot Districts. The allocation process concluded on the 1st of Ashwin, 2080, following an offering of 10,00,000 units of IPO shares, which represent 10% of the company’s total issued capital amounting to Rs. 1 Arba. This offering was exclusively available to residents in the Rasuwa and Nuwakot Districts and was open for applications from the 4th of Shrawan to the 17th of Bhadra. Local residents had the opportunity to apply for a minimum of 10 shares and a maximum of 10,000 shares.

    According to a recent notice issued by the company, approximately 990,800 units of IPO shares, or 99.08% of the total offering, have been successfully allotted to eligible applicants from the project-affected areas. Consequently, the remaining 9,200 units will soon be made available to the general public. In addition to this, the company plans to issue an additional 15,00,000 units, representing 15% of the total issued capital.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BB-‘ to Mathillo Mailun Khola Jalvidhyut Limited. This rating indicates a moderate risk of default in terms of the company’s ability to meet its financial obligations in Nepal.

    Mathillo Mailun Khola Jalvidhyut Limited is a publicly traded company established on August 14, 2012. The company’s establishment was facilitated by institutional investors, primarily associated with the Sanima Hydro Group, as well as other financial institutions, including banks and insurance companies. Its primary objective is to develop a 14.3 MW run-of-river project known as the Mathillo Mailun Khola Jalvidhyut Project, located in the Rasuwa district of Nepal, under the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • “Vision Lumbini Urja IPO Open to Kaski District Locals and Nepalese Abroad; Extension Possible for Locals”

    “Vision Lumbini Urja IPO Open to Kaski District Locals and Nepalese Abroad; Extension Possible for Locals”


    Vision Lumbini Urja Company Limited has initiated an Initial Public Offering (IPO) that is open for subscription from the 19th of Bhadra until the 2nd of Ashwin, 2080. This IPO is available to project-affected locals of Kaski District and Nepalese citizens working abroad.

    It’s important to note that for residents of Kaski District, if the IPO is not fully subscribed by the early closing date, it may be extended until Ashwin 17. However, this extension option does not apply to Nepalese citizens working abroad.

    The total issued capital of the company amounts to Rs. 1.91 Arba, and out of this, 10%, equivalent to 19,12,500 unit shares valued at Rs. 19.12 Crores, has been set aside for project-affected locals of Kaski District.

     

  • “Final Day to Apply for Mathillo Mailung Khola’s IPO for Project-Affected Locals”

    “Final Day to Apply for Mathillo Mailung Khola’s IPO for Project-Affected Locals”


    Mathillo Mailung Khola Jalbidhyut Limited had previously extended the deadline for its IPO shares to project-affected residents of Rasuwa and Nuwakot Districts until Bhadra 17, 2080. The company made this decision due to ongoing heavy rainfall and resulting flooding, which had made it difficult for locals to access banking centers. This extension was granted to accommodate the affected individuals and enable them to participate in the IPO issuance.

     

  • “Vision Lumbini Urja IPO: Shares Offered to Kaski Locals and Nepalese Abroad from Bhadra 19”

    “Vision Lumbini Urja IPO: Shares Offered to Kaski Locals and Nepalese Abroad from Bhadra 19”


     

    Vision Lumbini Urja Company Limited has released a formal offer letter for its Initial Public Offering (IPO), targeting individuals affected by the project in Kaski District and Nepalese citizens employed overseas.

    The IPO subscription window, specifically tailored for local residents and Nepalese citizens working abroad, will be accessible from the 19th of Bhadra to the 2nd of Ashwin in the year 2080. It’s important to note that in the case of Kaski District residents, if the subscription remains undersubscribed by the initial closing date, the offering period may extend until the 17th of Ashwin. However, for Nepalese citizens working abroad, the IPO offering will not be prolonged beyond the initial closing date.

     

  • Chirkhwa Hydropower Issuing IPO Shares to Locals of Bhojpur District and Nepalese Employed Abroad from Shrawan 28

    Chirkhwa Hydropower Issuing IPO Shares to Locals of Bhojpur District and Nepalese Employed Abroad from Shrawan 28


     

    Chirkhwa Hydropower Limited has released an offer letter for an Initial Public Offering (IPO) available to locals affected by the project in Bhojpur District and Nepalese citizens working abroad. The IPO will be open from the 28th of Shrawan to the 10th of Bhadra, 2080. If the locals in Bhojpur District don’t fully subscribe to the IPO by the initial closing date, the deadline may be extended until Bhadra 25. However, this extension won’t apply to Nepalese citizens working abroad.

     

  • “Mathillo Mailung Khola Jalbidhyut IPO Closing Today for Overseas Nepali Employees; Local Deadline Extended till Shrawan 18”

    “Mathillo Mailung Khola Jalbidhyut IPO Closing Today for Overseas Nepali Employees; Local Deadline Extended till Shrawan 18”


     

    Mathillo Mailung Khola Jalbidhyut Limited is ending the IPO application for Nepalese citizens working abroad today, which started on 18th Shrawan, 2080. However, the deadline for project-affected locals in Rasuwa and Nuwakot Districts has been extended until 1st Bhadra. The company has a total issued capital of Rs. 1 Arba, with 10% allocated to project-affected locals in Kaski District and 15% reserved for the general public. Out of the public issue, 10% of shares, totaling 150,000 units, have been set aside for Nepalese citizens working abroad, with the application closing today.

     

  • “Last Day for Locals IPO: Bhagawati Hydropower”

    “Last Day for Locals IPO: Bhagawati Hydropower”


     

    Bhagawati Hydropower Development Company Limited is wrapping up its IPO for project-affected locals today, the 14th Shrawan. The company issued a total capital of Rs. 57.20 Crores, with 10% (572,065 unit shares) allocated to locals in the Kaski District. Additionally, 15% of the capital (858,097 unit shares) will be offered to the general public later. Out of this, 10% (85,810 unit shares) were set aside for Nepalese citizens working abroad, and their issue closed on the 7th Shrawan, 2080.