Tag: Muktinath

  • Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop

    Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop


    Muktinath Bikas Bank Limited (MNBBL) has disclosed its second-quarter report for the fiscal year 2080/81, revealing a notable 32.93% decrease in net profit, dropping from Rs. 62.62 Crores in Q2 FY 2079/80 to Rs. 42 Crores in Q2 FY 2080/81. Concurrently, the bank reported a negative distributable profit after PL Appropriation and Regulatory Adjustments, amounting to Rs. 31.72 Crores during the same quarter.

    In terms of deposits, customer deposits underwent a 3.55% reduction, settling at Rs. 1.12 Kharba. However, loans and advances to customers saw a 1.95% upswing, reaching Rs. 96.29 Arba. Despite these fluctuations, the bank’s core business income, represented by Net Interest Income, demonstrated a positive trend, experiencing a 2.12% increase to Rs. 2.08 Arba compared to the corresponding quarter of the previous year.

    MNBBL’s financial structure comprises a paid-up capital of Rs. 7.04 Arba and Rs. 2.92 Arba in reserves and surplus. The annualized earnings per share (EPS) for the bank stood at Rs. 11.24, accompanied by a Net worth per share of Rs. 137.03.

    A notable aspect is the company’s trading position, characterized by a Price/Earnings (P/E) multiple of 34.22 times. Additionally, the Capital Adequacy Ratio (CAR) of the bank stands at 11.25%. However, there is a noteworthy increase in the Non-performing loan (NPL) ratio, which climbed to 2.51%.

  • Lower Erkhuwa Hydropower Taps Muktinath Capital for IPO Management, Offers 21.5% of Capital to Public

    Lower Erkhuwa Hydropower Taps Muktinath Capital for IPO Management, Offers 21.5% of Capital to Public


    Lower Erkhuwa Hydropower has enlisted Muktinath Capital Ltd. as the manager overseeing both the issuance and sales of its Initial Public Offering (IPO) shares. The company intends to release 2,805,750 ordinary shares to the general public at a face value of Rs. 100 per share, constituting 21.5% of its overall issued capital, which amounts to Rs. 1 Arba 30 crores 50 lakhs.

    In formalizing this share issuance, Lower Erkhuwa Hydropower’s Managing Director, Mr. Bishweshwar Subedi, and Muktinath Capital’s Chief Executive Officer, Mr. Kabindra Dhoj Joshi, have both signed the agreement. The distribution plan involves allocating 10% (equivalent to 13,05,000 shares) for individuals affected by the project and 11.5% (equivalent to 15,00,750 shares) for the general public.

    Situated in Bhojpur district, Lower Erkhuwa Hydropower Company is currently in the final stages of constructing the Lower Erkhuwa Hydroelectric Project, boasting a capacity of 14.15 megawatts. The primary promoter for this venture is the National Hydro Power Company Ltd. (NHPC). At present, the project has reached 85% completion, covering various aspects such as tunnel excavation, civil construction, procurement of electro-mechanical and hydro-mechanical equipment, as well as the establishment of transmission lines. To fund this estimated Rs. 2 Arba project, financial support has been secured through loans from Machhapuchchhre Bank Ltd., Nepal SBI Bank Ltd., and Jyoti Bikas Bank Ltd. The company’s goal is to commence commercial electricity production from this project within the current fiscal year.

  • Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors

    Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors


    Muktinath Bikas Bank effectively conducted its 17th Annual General Meeting in Pokhara on the 28th day of Poush, 2080 B.S. During the meeting, the approval was granted for the annual report of the fiscal year 2079/80, and a dividend distribution of 10.26% to shareholders was endorsed. This dividend comprises 9.75% in bonus shares and 0.51% in cash dividends to facilitate tax considerations.

    In the course of the event chaired by Mr. Bharat Raj Dhakal, the Chairman of the Bank’s Board of Directors, Mr. Gajendra Man Shrestha, a Board member, delivered a welcoming speech. Mr. Pradyuman Pokharel, the Bank’s CEO, shared insights into the current status and future strategies. The meeting also provided a platform for addressing queries and suggestions from shareholders, drawing on information from the annual report.

    Additionally, the Annual General Meeting resulted in the election of a new Board of Directors, featuring individuals such as Mr. Bharat Raj Dhakal, Mr. Narayan Kumar Shrestha, Mr. Bharat Prasad Lamsal, Mr. Vinod Kumar Sharma, and Mrs. Saroja Shrestha (Koirala). The confirmation of this selection was conducted by Mr. Til Bahadur Gurung, the Chief Information Officer of the bank.

  • 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.

  • Muktinath Bikas Bank Announces 17th AGM with Dividend Approval Amidst NEPSE Trading Suspension

    Muktinath Bikas Bank Announces 17th AGM with Dividend Approval Amidst NEPSE Trading Suspension


    Muktinath Bikas Bank Limited (MNBBL) has announced its 17th Annual General Meeting (AGM) scheduled for the 28th of Poush, 2080, to be held at City Square in New Road, Pokhara, starting at 10 AM.

    Among various agenda items, the AGM is set to approve a 10.2632% dividend for the fiscal year 2079/80. This decision was made during the 311th board meeting, with the dividend to be distributed on the paid-up capital of Rs. 6.42 Arba. The proposed distribution includes 9.75% bonus shares amounting to Rs 62.60 Crores and 0.5132% cash dividend (inclusive of bonus shares for tax purposes) totaling Rs 3.29 Crores.

    Additionally, the AGM will address the endorsement of the auditor’s report, covering profit and loss statements, financial reports, and cash flow reports. An auditor for the fiscal year 2080/81 will also be appointed. Furthermore, there are agendas related to the election of directors from both the public shareholding group and the promoter shareholding group. An agenda of note involves identifying a suitable development bank for potential merger and acquisition with Muktinath Bikas Bank Limited.

    However, it’s worth mentioning that the trading of Muktinath Bikas Bank Limited (MNBBL) was suspended by NEPSE on December 22 due to a violation of NEPSE regulations. The company is required to provide an explanation to NEPSE within 3 working days regarding the breach, as it had convened a board meeting on Poush 5 during trading hours for dividend declaration.

    The book closure date is set for Poush 19, allowing shareholders holding shares before this date to be eligible for the dividend payout and to attend the AGM.

  • Muktinath Krishi Company IPO Allotment Concludes with Overwhelming Response and Significant Oversubscription

    Muktinath Krishi Company IPO Allotment Concludes with Overwhelming Response and Significant Oversubscription


    The IPO allotment of Muktinath Krishi Company Limited was successfully concluded today at the headquarters of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

    Muktinath Krishi Company Limited had offered 11,48,000 units of IPO shares at a par value of Rs. 100 to the general public from the 8th to the 12th of Mangsir, 2080. Out of the total 14,00,000 units, 10% (1,40,000 units) were allocated to Nepalese citizens working abroad, 3% (42,000 units) were reserved for the company’s employees, and 5% (70,000 units) were set aside for mutual funds. The remaining 11,48,000 units were made available for the general public.

    The IPO garnered significant interest, receiving applications from 12,74,567 valid applicants who collectively applied for 1,36,04,910 units. The oversubscription rate exceeded 11.85 times. In the allotment process, 1,14,800 applicants were allotted 10 units each through a lottery system, while the remaining 11,59,767 applicants did not receive any allotment. Mutual funds were allotted 70,000 units, and 42,000 units were allocated to the company’s employees. However, 4,300 applicants who applied for 59,880 units were disqualified.

    The IPO result can be accessed through platforms such as CDSC IPO Result, MeroShare, and NIMB Ace Capital Limited.

    ICRA Nepal has reaffirmed Muktinath Krishi Company Limited’s issuer rating at [ICRANP-IR] BB-, indicating a moderate risk of default regarding the timely servicing of financial obligations. Muktinath Krishi Company is affiliated with Muktinath Bikash Bank, established in 2075 as the first public agricultural company. The company aims to play a managerial role in the agricultural value chain, contributing to Nepal’s agricultural economy through campaigns like “Krishak sanga Muktinath” and “Upabhoktaa sanga Muktinath.” The company operates in over 70 districts, maintaining more than 200 distribution channels and Agricultural Resource Centers.

  • IPO Allotment Details for Muktinath Krishi Company Limited: Oversubscribed Offering and Issuer Rating

    IPO Allotment Details for Muktinath Krishi Company Limited: Oversubscribed Offering and Issuer Rating


    The IPO allotment for Muktinath Krishi Company Limited is scheduled for this Tuesday, on the 19th of Mangsir, 2080. The allotment event will be conducted at the premises of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

    Out of the total 14 lakh units offered, 10% (1,40,000 units) has already been assigned to Nepalese citizens working abroad. Additionally, 3% (42,000 units) was reserved for the company’s employees, and 5% of the total offered shares (70,000 units) were allocated to mutual funds. The remaining 11,48,000 units were made available to the general public at a par value of Rs. 100.

    According to the Central Depository and Clearing Company (CDSC), a substantial 10,57,828 applicants applied for a total of 1,15,23,150 units, equivalent to Rs. 1.15 Arba, by the closing day. This indicates an oversubscription rate of 10.03 times the offering.

    Analyzing the data, it becomes evident that only 1,14,800 fortunate applicants will be granted ownership of the company. ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). This rating suggests that issuers with this designation are deemed to carry a moderate risk of default in terms of fulfilling their financial obligations in a timely manner.

  • Muktinath Krishi Company’s Foreign Nepalese Immigrants IPO Sees Significant Oversubscription, Closing Today

    Muktinath Krishi Company’s Foreign Nepalese Immigrants IPO Sees Significant Oversubscription, Closing Today


    Muktinath Krishi Company Limited is concluding the issuance of its Initial Public Offering (IPO) for Foreign Nepalese Immigrants today, marking the 24th of Kartik as the closing date. The IPO was initiated on the 10th of Kartik, 2080.

    With an issued capital of Rs. 70 Crores, the company plans to issue 14,00,000 unit shares worth Rs. 14 Crores to the general public, constituting 20% of the total capital. Specifically, 10% of these shares, totaling 140,000 units, have been earmarked for Nepalese citizens working abroad, and the application period for this segment is set to close today.

    NIMB Ace Capital serves as the appointed issue manager for this IPO. Interested applicants can apply for a minimum of 10 units and a maximum of 1,000 units. According to information from the Central Depository and Clearing Company (CDSC), the IPO has garnered substantial interest, with 32,883 applicants applying for a total of 7,70,900 units. Consequently, the issue has been oversubscribed by 5.50 times as of now.

    ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). This rating implies a moderate risk of default regarding the timely servicing of financial obligations for the company.

    Muktinath Krishi Company is closely associated with Muktinath Bikash Bank, being the first public agricultural company established in 2075. The company’s mission is to play a managerial role in the agricultural value chain through campaigns such as “Krishak sanga Muktinath” and “Upabhoktaa sanga Muktinath,” aiming to enhance Nepal’s agricultural economy. Operating across more than 70 districts, with over 200 distribution channels and Agricultural Resource Centers, the company provides goods and services to support agricultural development nationwide.

  • Auction of Promoter Shares: Muktinath Bikas Bank Limited and Mahalaxmi Bikas Bank Limited

    Auction of Promoter Shares: Muktinath Bikas Bank Limited and Mahalaxmi Bikas Bank Limited


    Muktinath Bikas Bank Limited (MNBBL) is selling 119,055 units of promoter shares through an auction. The auction is only open to existing promoters of the bank and will take place from 30th Jestha to 1st Shrawan, 2080. The minimum bid rate is Rs. 190, and bids must be submitted to the auction manager, B.O.K Capital Markets, in Naxal, Kathmandu.

    Similarly, Mahalaxmi Bikas Bank Limited (MLBL) is auctioning 9,47,392 units of shares to its existing promoters. Only current promoters of MLBL can participate in the auction, which will run for 35 days starting from 30th Jestha. Bids should be submitted at MLBL’s central office in Durbarmarg, Kathmandu.

    As of now, MLBL shares have a last traded price (LTP) of Rs. 320.

  • Muktinath Bikas Bank and Sadhana Laghubitta distributed bonus shares to shareholders’ demat accounts.

    Muktinath Bikas Bank and Sadhana Laghubitta distributed bonus shares to shareholders’ demat accounts.


    Muktinath Bikas Bank Limited (MNBBL) has given 13.5% bonus shares directly to its owners’ DEMAT accounts and encouraged them to dematerialize their shares.

    On 30th Poush, 2079, the bank had its 16th AGM for FY 2078/79. The AGM approved a dividend of 14.2105% for fiscal year 2078/79. The board of directors resolved on Poush 01 to disburse the dividend on the paid-up capital of Rs. 5.65 Arba. There was a proposal for 13.5% bonus shares worth Rs 76.37 crore and 0.7105% cash dividend (including bonus shares for tax purposes) of Rs 4.01 crore. Demat accounts are now receiving the same bonus dividend.

     

  • Shuvam Power’s first public offering allocation will end tomorrow morning; 48,188 lucky applicants will receive 10 units each.

    Shuvam Power’s first public offering allocation will end tomorrow morning; 48,188 lucky applicants will receive 10 units each.


    Tomorrow morning, or on Magh 27, 2079, Shuvam Power Limited’s (SHUVAM) initial public offering (IPO) will take place. On the property of the issue manager, Muktinath Capital Limited, in Naxal, the allotment program will take place.

    From the 18th Magh to the 22nd Magh, the company distributed 481,882 units of shares with a face value of 100 rupees to the general public as part of an IPO. 10%, or 58,058 units, of the total 580,580 units have already been allocated to Nepalese people living and working overseas. 2%, or 11,610 units, were set aside for firm workers. 5%, or 29,030 units, of the total offered shares were reserved for mutual funds. 481,882 more units were produced for the