Tag: Operate

  • IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad

    IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad


    Upper Syange Hydropower Limited is offering shares to project-affected locals of the Lamjung District and Nepalese citizens working abroad. The IPO will be open from 1st Jestha to 16th Jestha, 2080, and if the issue is not subscribed by the early closing date for locals of Lamjung District, it can be extended till the 30th Jestha. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad. The company’s issued capital is Rs. 22 Crores, and 10% i.e. 2,20,000 unit shares worth Rs. 2.2 crores have been allocated to project-affected locals of Lamjung District.

    29.55% of the company’s issued capital i.e. 650,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 65,000 units shares have been allocated for Nepalese citizens working abroad. The minimum application quantity for the project-affected locals is 10 units, while the maximum quantity is 100,000 units. Meanwhile, for Nepalese citizens working abroad, the minimum application quantity is 10 units, while the maximum quantity is 50,000 units.

    Siddhartha Capital Limited is the issue manager, and the promoter-public share ratio will be 60.45: 39.55 after this IPO. The issuer rating of Upper Syange Hydropower Limited has been reaffirmed as ‘CARE-NP BB (Is)’ by CARE Ratings Nepal Limited (CRNL), indicating a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

    Upper Syange Hydropower is a Public Limited company that is setting up a 2.4 MW Run-of-River (RoR), Upper Syange Hydropower Project (USHP) in BOOT (Build, own, Operate, and Transfer) mechanism. It was incorporated on January 26, 2009, as Upper Syange Hydropower Private Limited and converted to Public limited on March 30, 2017. The project is located in the Lamjung district of Nepal and is promoted by both individual and institutional promoters from different backgrounds.

  • Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public

    Modi Energy Limited opens IPO issue of 55.59 lakh unit shares to the general public


    Modi Energy Limited has started offering 55,59,420 unit IPO shares with a face value of Rs 100 to the public, aiming to raise Rs 55.59 crore. The IPO will close on the 24th of Baisakh, and it can be extended up to the 2nd of Jestha, 2080, if it is not fully subscribed. The company had previously issued 29,00,000 unit shares worth Rs. 29 crores to project-affected locals of Parbat District, and the remaining 20,95,610 units of unsubscribed shares are added to 43,50,000 units reserved for the general public. A total of 64,45,610 units are for the general public. Sunrise Capital Limited is the issue manager for the IPO, and applications can be made for a minimum of 10 units and a maximum of 100,000 units. Modi Energy Limited has been promoted by institutional promoters and individual businessmen, and the Hydroelectric Project of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project, is being constructed under the “BOOT” model in the Parbat district of Nepal.

  • Allotment of 12 Crore Units of Siddhartha Investment Growth Scheme 3 Concludes; Only 67.15% Units Subscribed

    Allotment of 12 Crore Units of Siddhartha Investment Growth Scheme 3 Concludes; Only 67.15% Units Subscribed


    Siddhartha Capital Limited recently concluded the issuance of its closed-end mutual fund scheme, “Siddhartha Investment Growth Scheme 3”. The issue consisted of 12 crore unit shares with a par value of Rs. 10 per unit. The fund promoter, Siddhartha Bank Limited, was allocated 10% (1.2 crore units) of the shares, while the fund manager, Siddhartha Capital, was allocated 5% (60 lakh units). The remaining 10.20 crore units were issued to the general public. The scheme, which has a maturity period of 10 years, is the sixth mutual fund scheme offered by Siddhartha Capital. On Baisakh 17, 80,580,000 units were allotted to valid applicants, resulting in a total scheme size of Rs. 80.58 Crores.

  • “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”

    “IPO Shares for Ingwa Hydropower’s General Public Offering Now Available: Get Your 12,68,639 Units Today!”


     

    Ingwa Hydropower Limited has announced the closure of its IPO issuance of 12,68,639 unit shares with a face value of Rs. 100 per share. The issue, which opened on April 13, 2080, is oversubscribed by 8.64 times, with 994,624 applicants applying for a total of 10,964,750 units. The company intends to collect Rs. 12.68 crore from this IPO, with 70% of the shares belonging to promoter shareholders.

    Before this issuance, the company had allotted 306,840 units of its 6,00,000 unit shares worth Rs. 6 crores to project-affected locals in Taplejung District, with the remaining 293,160 units added to the 12,00,000 units reserved for the general public. Out of the total 14,93,160 units available to the general public, 120,000 units have already been allotted to Nepalese citizens working abroad, while 5% and 2% have been set aside for mutual funds and employees of the company, respectively. The remaining 12,68,639 units are for the general public, with a minimum application of 10 units and a maximum of 20,000 units.

    The IPO issuance is managed by Sunrise Capital Limited, while CARE Ratings Nepal Limited has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Ingwa Hydropower Limited, indicating a moderate risk of default regarding timely servicing of financial obligations in Nepal. The company was incorporated on June 23, 2009, as a private limited company and was later converted into a public limited company on August 25, 2014. The company’s institutional promoters and individual businessmen in Nepal have promoted it to set up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project under the BOOT mechanism in the Panchthar district of Nepal.

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  • NIBL Ace Capital inks IPO Roadmap with Alliance Pharmaceuticals.

    NIBL Ace Capital inks IPO Roadmap with Alliance Pharmaceuticals.


    NIBL Ace Capital Limited has signed a Roadmap for an IPO agreement with Alliance Pharmaceuticals Pvt. Ltd. as part of its business consulting service.

    The agreement was signed in the presence of Mr. Sunil Pradhan, Managing Director of Alliance Pharmaceuticals Pvt. Ltd., and Mr. Bhuwan Raj Panta, Head of Corporate Advisory Service of NIBL Ace Capital Limited by Mr. Sachindra Dhungana, Deputy General Manager of NIBL Ace Capital Limited, and Mr. Manohar Das Mool, Chairman of Alliance Pharmaceuticals P

     

  • SEBON Approves Upper Syange Hydropower IPO Proposal

    SEBON Approves Upper Syange Hydropower IPO Proposal


     

    The Securities Exchange Board of Nepal (SEBON) has authorized Upper Syange Hydropower Limited’s proposed initial public offering (IPO) on Baisakh 13, 2080.

    The corporation will now issue 870,000 equity shares at NPR 100 per share. The issuance is worth Rs. 8.7 crore. This is equivalent to 39.55% of the company’s issued capital. The company’s total paid-up capital following the IPO allotment will be Rs 22 crores.

     

  • Menchhiyam Hydropower IPO Allotment Concludes: Lucky 95,411 Applicants Gets 10 Units Each Whereas Staff Quota Undersubscribed

    Menchhiyam Hydropower IPO Allotment Concludes: Lucky 95,411 Applicants Gets 10 Units Each Whereas Staff Quota Undersubscribed


    Menchhiyam Hydropower Limited’s initial public offering (IPO) was completed today at the Lainchaur Banquet in Kathmandu. The issue manager for this IPO was NIC Asia Capital.
    Menchhiyam Hydropower Limited released 934,915 units worth Rs 9.34 crores to the general public as an Initial Public Offering (IPO) (Baisakh 4- 7, 2080).

    Previously, the business granted 542,583 unit shares worth Rs. 5.42 crores to project-affected Sankhuwasabha District residents, of which only 505,780 were given to legitimate applicants. As a result, the remaining 36,803 unsubscribed shares of project-affected locals are added to the 10,85,167 units (20% of the issued capital designated for the general public) to produce a total of 11,21,970 units for the general public.

  • List of Bank Holidays in Nepal 2080

    List of Bank Holidays in Nepal 2080


    The central bank of Nepal, Nepal Rastra Bank, has recently unveiled the annual bank holiday schedule for the period of 2080 BS, which spans from April 14, 2023 to April 12, 2024. This comes in response to the government’s decision to permit essential service-providing institutions, such as banks, to operate on specific public holidays as declared by the government. The notice from NRB outlines the bank holidays during which Nepalese banks will remain closed, while also indicating that partial banking services, including cash transactions, will be available on certain dates marked with an asterisk (*). This information is aimed at providing clarity to the public and businesses regarding the operational status of banks during the designated holidays.

    No. List of Holidays Date
    1 New Year April 14, 2023
    2 Labour Day May 1, 2023
    3 Buddha Jayanti/Ubhauli/Chandi Purnima* May 5, 2023
    4 Republic Day* May 29, 2023
    5 Gaura Parva (Only for the region or culture celebrating the festival) August 24, 2023
    6 Raksha Bandhan/Gai Jatra* August 31, 2023
    7 Krishna Janmashtami* September 6, 2023
    8 Tij (Only for women) September 18, 2023
    9 Constitution Day September 20, 2023
    10 Indra Jatra* (Only in the Kathmandu valley) September 28, 2023
    11 Jitiya Parva (Only for women celebrating the festival) October 7, 2023
    12 Ghatasthapana* October 15, 2023
    13 Dashain (Phulpati-Dwadashi) October 21-26, 2023
    14 Phalgunanda Jayanti (Only for the followers of Kirat religion) November 11, 2023
    15 Tihar November 12-16, 2023
    16 Chhath November 19, 2023
    17 Guru Nanak Jayanti (Only for the Sikhs) November 27, 2023
    18 International Disability Day (Only for the staff with disabilities) December 3, 2023
    19 Christmas* December 25, 2023
    20 Udhauli/Yomari Punhi/Jyapu Diwas* December 26, 2023
    21 Tamu Lhosar* December 31, 2023
    22 Prithvi Jayanti/National Unity Day* January 12, 2024
    23 Maghi/Maghe Sankranti* January 15, 2024
    24 Sonam Lhosar* February 10, 2024
    25 People’s War Day* February 13, 2024
    26 Democracy Day* February 19, 2024
    27 Mahashivaratri/Women’s Day* March 8, 2024
    28 Gyalpo Lhosar* March 11, 2024
    29 Phagu Purnima March 24, 2024 (Hilly and mountainous districts)
    March 25, 2024 (Plain districts)
    30 Ghodejatra* (Only in the Kathmandu valley) April 8, 2024
    31 Machhindranath Bhoto Jatra* (Only in the Kathmandu valley) Date to be announced by the government
    32 Eid al-Fitr* Date to be announced by the government
    33 Bakra Eid/Eid al-Adha* Date to be announced by the government
    34 Siruwa Pawani (Only in Jhapa, Morang, Sunsari, Siraha and Saptari) Date to be announced by the government
    35 Mohammad Jayanti (Only for the Muslims) Date to be announced by the government
  • Modi Energy will issue 59,94,420 unit IPO shares to the general public beginning in Baisakh 19.

    Modi Energy will issue 59,94,420 unit IPO shares to the general public beginning in Baisakh 19.


     

    Modi Energy Limited has sent an offer letter to the general public in preparation for its Initial Public Offering (IPO).

    From the 19th of Baisakh, 2080, the firm would issue 59,94,420 unit shares with a face value of Rs 100. This IPO is expected to generate Rs 59.94 crore for the firm. This issue’s early closure date is on 24th Baisakh, and if it is not completely subscribed, it can be prolonged until 2nd Jestha, 2080.

     

  • Dolti Power Company’s Initial Public Offering (IPO) has concluded, with 1,27,186 lucky applicants receiving 10 units each.

    Dolti Power Company’s Initial Public Offering (IPO) has concluded, with 1,27,186 lucky applicants receiving 10 units each.


    Dolti Power Company Limited’s initial public offering (IPO) was completed today at the offices of NIC Asia Capital Limited in Kathmandu.

    Dolti Power Company Limited offered 12,71,861 units worth Rs 12.71 crores to the general public as an Initial Public Offering (IPO) (Chaitra 28, 2079- Baisakh 3, 2080).According to the allocation module, a total of 1,27,186 candidates were assigned 10 units each by lottery, with one lucky applicant receiving an additional unit, while the rest 11,41,760 applicants were returned with empty hands.

  • On Baisakh 04, Ingwa Hydropower distributed IPO shares to project-affected locals and Nepalese working abroad.

    On Baisakh 04, Ingwa Hydropower distributed IPO shares to project-affected locals and Nepalese working abroad.


    Ingwa Hydropower Limited has distributed IPO shares to Taplejung District residents and Nepalese people working overseas. The allotment program ended on the 4th of Baisakh, and money will be refunded to non-allottee applicants beginning on the 6th of Baisakh, 2080.

    The company’s issued capital is Rs. 60 crores, of which 10%, or 6,00,000 unit shares worth Rs. 6 crores, were distributed to project-affected Taplejung District residents. Meanwhile, 20% of the company’s outstanding capital, or 12,00,000 unit shares, will be made available to the general public later. 10% of the shares in this public offering, totaling 120,000 units, were reserved for Nepalese people working overseas. The problem had begun on the 21st of Falgun, 2079.

     

  • Federal Reinsurance Brokers Limited enters an agreement with the Banking Finance and Insurance Institute of Nepal to strengthen the insurance sector’s capability.

    Federal Reinsurance Brokers Limited enters an agreement with the Banking Finance and Insurance Institute of Nepal to strengthen the insurance sector’s capability.


     

    On April 13, 2023, Federal Reinsurance Brokers Limited and Banking Finance and Insurance Institute of Nepal Limited signed a Memorandum of Understanding (MOU) to form a long-term strategic alliance in the areas of training, research, and consulting for the insurance sector’s capacity development. Ms. Alpana Sharma, Company Secretary, and Mr. Saurav Baral, Research Analyst of FRBL, and Ms. Nishu Bhagat, Manager, and Mr. Matiram Paudel, Account and Admin Officer of BFIN, signed the Memorandum of Understanding.