Tag: Nepal

  • First Microfinance Laghubitta Bittiya Sanstha Limited Initiates Auction of 1,20,000 Promoter Shares Managed by Prabhu Bank Limited

    First Microfinance Laghubitta Bittiya Sanstha Limited Initiates Auction of 1,20,000 Promoter Shares Managed by Prabhu Bank Limited


    The current promoter of First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL) has initiated the sale of 1,20,000 units of promoter shares through an auction, which commenced on 7th Falgun and will continue until 11th Chaitra, 2080.

    The auction involves the sale of the entire 1,20,000 units of promoter shares, and interested promoter shareholders or institutions have the opportunity to participate by placing bids. The minimum bid rate set for the auction is Rs. 315. While bidders can submit bids for the entire share issue, they must adhere to the guidelines set by the Nepal Rastra Bank, ensuring that the specified quantity of shares per entity is not exceeded.

    The auction management is entrusted to Prabhu Bank Limited. It is essential for potential bidders to take note of the rules and regulations governing the auction process. As of the latest information, the Last Traded Price (LTP) of FMDBL stands at Rs. 606. This auction provides interested parties with the chance to acquire promoter shares at the prevailing market conditions, with Prabhu Bank Limited overseeing the transparent and fair conduct of the auction proceedings.

  • United Ajod Insurance Limited’s 30th AGM: Dividend Approval, Financial Reports, and New Board Elections Unveiled

    United Ajod Insurance Limited’s 30th AGM: Dividend Approval, Financial Reports, and New Board Elections Unveiled


    United Ajod Insurance Limited (UAIL) held its 30th Annual General Meeting on Sunday, 6th Falgun, 2080, at Anmol Banquet, Shankhamul, Kathmandu. The meeting covered various key agenda items, including the approval of annual reports from the Management Committee, the financial performance for the fiscal year 2079/80, and the audit reports of former Ajod Insurance Ltd. and United Insurance Co. (Nepal) Ltd. Additionally, the financial statements for the upcoming fiscal year 2080/81, encompassing details such as financial results, balance sheet, and cash flow, received unanimous approval.

    A significant decision made during the meeting was the endorsement of a 10.8013% dividend to shareholders. This dividend comprised a 0.5401% cash dividend and a 10.2612% bonus share, calculated from the paid-up capital of Rs. 1.90 Arba.

    Moreover, the gathering witnessed the election of a new board of directors for the company. The selections included individuals such as Mr. Ajad Shrestha, Mr. Pranav Kumar Das, and Mr. Balram Khanal representing the founder’s side, along with Mr. Panu Datta Poudel and Mr. Shambhu Adhikari, who were elected to represent the general public. This reshuffling of the board is expected to bring fresh perspectives and leadership to United Ajod Insurance Limited as it moves forward into the future.

  • Last Day for HRL and Asian Life Insurance Dividend Grab

    Last Day for HRL and Asian Life Insurance Dividend Grab


    Today marks the deadline to avail the 5.789% dividend offered by Himalayan Reinsurance Limited (HRL). The company has scheduled its 3rd Annual General Meeting (AGM) for 20th Falgun, 2080, to be held at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM.

    In the 55th board meeting held on Magh 25, it was decided to distribute dividends based on the paid-up capital of Rs. 10 Arba. The proposal includes 4% bonus shares and a 0.21% cash dividend (for tax purposes). This translates to bonus shares valued at Rs. 40 crores and a cash dividend of Rs. 2.10 crores.

     

  • Central Finance: No Dividends for FY 2079/80

    Central Finance: No Dividends for FY 2079/80


    Central Finance Limited (CFCL) has announced that it will not be giving out any dividends for the Fiscal Year 2079/80. This decision was reached during the 335th Board Meeting held on Falgun 04. However, it’s essential to understand that this decision is dependent on the approval of the financial statements by the regulatory authority, Nepal Rastra Bank, and the forthcoming Annual General Meeting of the company.

     

  • Shikhar Insurance: No Dividend for FY 2079/80

    Shikhar Insurance: No Dividend for FY 2079/80


     

    Shikhar Insurance Company Limited (SICL) has announced that it won’t be paying dividends for the Fiscal Year 2079/80. This decision came after the 322nd Board Meeting held on Falgun 04, 2080. However, the financial statements are pending approval from the Nepal Insurance Authority and will be discussed further in the upcoming Annual General Meeting.

     

  • 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.

     

  • NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover

    NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover


    On the first trading day of the week, the Nepal Stock Exchange (NEPSE) saw a drop, with the index falling by 27.21 points or 1.31% compared to the previous day, closing at 2,034.82 points. This continues a trend from the previous Thursday when the index went down by 14.46 points.

    Starting today’s trading, the market opened at 2,060.68, reaching a high of 2,062.32 during the day and a low of 2,030.29. Ultimately, it ended at 2,034.82 levels.

     

  • NEPSE Introduces New Classification System for Listed Companies

    NEPSE Introduces New Classification System for Listed Companies


    NEPSE has introduced a new classification system for listed companies, dividing them into groups A, B, G, and Z. This system aims to offer investors and stakeholders a clearer understanding of companies based on their financial status, performance, and governance.

    In the A category, which includes 31 companies, NEPSE has identified firms with a minimum paid-up capital of Rs. 1 Arba. These companies have been listed for at least 3 years, consistently shown profitability over the past 3 fiscal years, distributed dividends, and held annual general meetings within 6 months of the fiscal year-end. Companies in the A category are distinguished by strong corporate governance.

     

  • Closing Today: 10% NIMB Debenture 2090 Public Issue

    Closing Today: 10% NIMB Debenture 2090 Public Issue


     

    Nepal Investment Mega Bank Limited (NIMB) is wrapping up the offering of 40,40,000 units of “10% NIMB Debenture 2090” to both the general public and institutions, starting from today, 4th Falgun, 2080. These debentures, with a maturity period of 10 years and a coupon rate of 10%, were available for application since the 1st Falgun, 2080.

    Each unit of the debenture, priced at Rs. 1000, will see 60% or 24.24 lakh units subscribed via private placement. The remaining 16.16 lakh units, equivalent to Rs. 1.61 Arba, are open for public issuance, with an additional 5% or 80.80 thousand units allocated for mutual funds. In total, the issuance aims to raise Rs. 4.40 Arba.

  • Gold Surges by Rs. 600/Tola, Silver Up by Rs. 35

    Gold Surges by Rs. 600/Tola, Silver Up by Rs. 35


     

    Today, the price of gold has risen by Rs. 600 per tola compared to yesterday’s trading price. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is now being traded at Rs. 1,17,100 per tola, marking a Rs. 600 increase from yesterday’s price of Rs. 1,16,500 per tola. Similarly, Tejabi gold is available today at Rs. 1,16,800 per tola, showing an increase of Rs. 850 from yesterday’s price of Rs. 1,15,950 per tola.

  • Promoter Shares of KBL, NMB, IGI & MSLB in Auction Today

    Promoter Shares of KBL, NMB, IGI & MSLB in Auction Today


     

    The current promoter of Kumari Bank Limited (KBL) is offering 3,14,140 units of shares for auction to interested existing promoter shareholders, starting today. Bal Krishna Shrestha is selling these promoter shares, and those interested must submit their bids within 35 days from the publication date of this notice, which is the 4th of Falgun. Bids should be submitted at the bank’s central office in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. If no bids are received from existing founder shareholders within the specified timeframe, the shares will later be available for auction to the general public.

  • Star Micro Insurance Calls AGM to Discuss IPO Issuance Agenda

    Star Micro Insurance Calls AGM to Discuss IPO Issuance Agenda


    Star Micro Insurance Company Limited has scheduled its inaugural Annual General Meeting (AGM) for the 27th of Falgun, 2080, at its Registered Office on Durbarmarga, Kathmandu, commencing at 11:00 AM. The AGM’s agenda encompasses the approval of the company’s annual report, endorsement of the auditor’s report for the fiscal year 2079/80, including Profit and Loss (PNL) statements, financial reports, and cash flow reports, and the selection of an auditor for the fiscal year 2080/81, along with determining their remuneration.