Tag: Promoter

  • Nepal Investment Mega Bank’s 10% NIMB Debenture 2090 Secures Regulatory Approval

    Nepal Investment Mega Bank’s 10% NIMB Debenture 2090 Secures Regulatory Approval


    The Securities Board of Nepal has granted approval for Nepal Investment Mega Bank Limited’s “10% NIMB Debenture 2090.” The regulatory nod was received on Poush 2, 2080.

    The debenture issuance, titled “10% NIMB Debenture 2090,” comprises a total of 40.40 lakh units, with each unit having a par value of Rs. 1,000. Out of the total units, 16.16 lakh will be made available to the general public, while the remaining 24.24 lakh units will be subscribed via private placement.

    Prabhu Capital Limited has been appointed as the issue manager for the debenture issuance.

    As indicated by its name, the “10% NIMB Debenture 2090” comes with a maturity period of 10 years, set to mature in the year 2090 BS. Unitholders of the debenture can expect a 10% annual return on their investment.

  • Butwal Power Company Calls 31st AGM: Endorses 5% Dividend and Proposes FPO

    Butwal Power Company Calls 31st AGM: Endorses 5% Dividend and Proposes FPO


    Butwal Power Company Limited (BPCL) has announced its 31st Annual General Meeting (AGM) scheduled for the 29th of Poush, 2080, corresponding to January 14, 2024. The meeting is set to take place at Karki Banquet, Babarmahal, Kathmandu, starting at 11 am on the specified day.

    Among the various agendas to be discussed at the AGM, one notable item is the endorsement of a 5 percent dividend for the fiscal year 2079/80. The decision to distribute a 5% cash dividend on the paid-up capital of Rs. 3.4 Arba was made during the board of directors’ meeting on Mangsir 29.

    Additionally, the AGM will address the endorsement of the auditor’s report, covering profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 is also on the agenda. Another crucial topic for discussion is the proposal from the Board of Directors to issue 1 Crore units of Follow-on Public Offering (FPO) shares at a par value of Rs. 100. The current paid-up capital of the company stands at Rs. 3.40 Arba, and after the FPO issuance, it will increase to Rs. 4.40 Arba.

    The book closure date has been specified from Poush 19 to Poush 29. Shareholders maintaining their shares until this date are entitled to the dividend payout and are also eligible to attend the AGM.

  • Budhanilkantha Heritage Hotel Calls 5th AGM with IPO Proposal and ICRA Nepal Rating

    Budhanilkantha Heritage Hotel Calls 5th AGM with IPO Proposal and ICRA Nepal Rating


    Budhanilkantha Heritage Hotel Limited has announced its 5th Annual General Meeting (AGM), scheduled for the 27th of Poush, 2080 (equivalent to January 11, 2024). The meeting will take place at the company’s registered office in Budhanilkantha, Kathmandu, Nepal, beginning at 4:00 p.m.

    Among the various agendas, one notable item is the proposal to issue an Initial Public Offering (IPO) representing 15% of the company’s issued capital. Additionally, the AGM will cover the endorsement of the auditor’s report, including profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 will be discussed, along with the approval of decisions made by the board of directors. There is also an agenda empowering the Board of Directors to make essential amendments, additions, reductions, or alterations in the Articles of Association and Regulations during the issuance of the IPO.

    ICRA Nepal has assigned a long-term rating of [ICRANP] LB+ to the NPR 900-million long-term loans (including proposed limits) of Budhanilkantha Heritage Private Limited (BHPL).

    Incorporated in November 2018, Budhanilkantha Heritage Private Limited serves as a special-purpose vehicle (SPV) for the ownership and operation of a proposed nine-storied 5-star hotel under construction in Budhanilkantha, Kathmandu. The plot size for the hotel is approximately 5,820 square meters. The promoter group comprises professionals, including chartered accountants, doctors, and private entrepreneurs. BHPL represents the first hotel project for the promoter group and is currently under construction, with targeted commercial operations expected to commence in December 2021.

  • Nepal Stock Exchange (NEPSE) Witnesses Significant Surge: A Comprehensive Analysis of Market Trends and Sector Performances

    Nepal Stock Exchange (NEPSE) Witnesses Significant Surge: A Comprehensive Analysis of Market Trends and Sector Performances


    In recent weeks, the Nepal Stock Exchange (NEPSE) has witnessed a substantial upward trend, particularly following the first quarterly monetary policy review on Mangir 22. Over the past eight trading days, the NEPSE Index has notably risen from the 1800 levels to the 2100 levels, marking a significant gain of 253.68 points.

    This surge is attributed to the revision in the risk weight assigned to real estate by banks and financial institutions. The risk weight for all types of real estate held by these entities has been reduced, instilling increased confidence among investors. Notably, the risk associated with share mortgage loans exceeding Rs. 50 lakh has also been lowered, further stimulating market sentiments.

    The recent adjustments in interest rates, as outlined in the Nepal Rastra Bank (NRB) monetary policy review, have also played a pivotal role in the NEPSE surge. Reductions in the bank rate, policy rate, and adjustments in deposit collection rates have contributed to a favorable economic environment, fostering investor optimism.

    Another contributing factor is the decrease in the Credit-Deposit (CD) ratio to 79, triggering a sense of Fear of Missing Out (FOMO) among investors. This sentiment has driven a surge in market activity as investors seek to capitalize on potential buying opportunities.

    Examining the one-month performance of the NEPSE Index and its sub-indices reveals a robust increase of 13.65%, accompanied by a remarkable 401.24% positive change in turnover values. Notably, the Hotels and Tourism Index experienced the most substantial positive shift, surging by 23.64%. Other sectors such as Hydropower, Investment, and Life Insurance also witnessed significant upswings.

    Delving into the sector-wise performance of the top five companies in each sector that exhibited the most substantial gains over the past month provides a comprehensive overview of the market dynamics.

    In the Banking Index, Everest Bank emerged as the frontrunner with a surge of 18.21%, reflecting positive shifts in the banking sector. Similarly, Karnali Development Bank led the Development Bank Index with a remarkable upswing of 35.67%. In the Finance Companies sector, Reliance Finance took the lead with a surge of 28.23%.

    City Hotels showcased a noteworthy surge of 34.06% in the Hotels and Tourism Index, emphasizing the resilience and growth potential within the hospitality sector. Molung Hydropower Company led the Hydropower Index with a remarkable surge of 96.37%, underlining the positive momentum in the hydropower industry.

    Hathway Investment, a newly listed company in the Investment Index, demonstrated an exceptional surge of 131.18%, showcasing the potential of newly listed entities. Reliable Nepal Life Insurance Company led the Life Insurance Index with a notable surge of 42.17%.

    In the Manufacturing and Processing Index, Bottlers Nepal Limited (Terai) exhibited an impressive surge of 94.85%, underscoring growth in the manufacturing sector. Samaj Laghubitta Bittiya Sanstha demonstrated an extraordinary surge of 751.78% in the Microfinance Index.

    Citizens Mutual Fund 2 showcased the highest surge in the Mutual Fund category, marking an impressive increase of 19.71%. Sanima GIC Insurance took the lead in the Non-Life Insurance Index with a surge of 34.69%.

    Nepal Republic Media exhibited the highest surge in the Others Index, emphasizing positive shifts in media companies. Salt Trading Company led the Trading Index with a growth of 10%.

    These performance indicators across various sectors underscore the dynamic nature of the Nepalese stock market, reflecting positive investor sentiment and market activity.

  • Shivam Cements Calls 8th AGM to Discuss 15% Dividend and Fiscal Year Reports

    Shivam Cements Calls 8th AGM to Discuss 15% Dividend and Fiscal Year Reports


    Shivam Cements Limited (SHIVM) has announced its 8th Annual General Meeting (AGM), scheduled for the 27th of Poush, 2080 (equivalent to January 11, 2024). The meeting is set to take place at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, beginning at 9:00 am.

    One of the key agendas for the AGM is the endorsement of a 15% dividend for the fiscal year 2079/80. The proposal, originating from the 123rd board meeting held on Poush 03, includes a distribution of 14.25% bonus shares amounting to Rs. 62.70 Crores and a 0.75% cash dividend (for tax purposes) totaling Rs. 3.30 Crores. The company’s current paid-up capital stands at Rs. 4.40 Arba.

    Additionally, the AGM will address matters such as endorsing the auditor’s report, profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 is also on the agenda.

    The book closure date is set for Poush 19, and shareholders maintained before that date are eligible for the dividend payout and can attend the AGM.

  • “Siddhartha Premier Insurance Launches Auction of Promoter Shares: Open to General Public and Institutions”

    “Siddhartha Premier Insurance Launches Auction of Promoter Shares: Open to General Public and Institutions”


    The current promoters of Siddhartha Premier Insurance Limited (SPIL) have initiated the sale of 1,78,865 units of promoter shares through an auction. This auction is open to both interested promoter shareholders and the general public/institutions, spanning from the 4th Poush to the 13th Poush, 2080.

    In this auction, a total of 1,78,865 units of promoter shares from SPIL will be made available. Interested parties, including general public/institutions, who meet the qualification criteria, have the opportunity to participate in the bidding process. The minimum bid rate set for this auction is Rs. 220, and the minimum bid quantity for promoters’ shares is 5000 units.

    The auction management for this process is handled by NIC Asia Capital Limited.

    As of the current information, the Last Traded Price (LTP) for SPIL is Rs. 774.00.

  • Sarbottam Steel Announces 3rd AGM with IPO Proposal and ICRA Ratings Affirmation

    Sarbottam Steel Announces 3rd AGM with IPO Proposal and ICRA Ratings Affirmation


    Sarbottam Steel Limited has scheduled its third Annual General Meeting (AGM) for the 25th of Poush, 2080 (the equivalent of January 8, 2024). The meeting is set to take place at the Company Office Hall in Neupane Tower, Tinkune, Kathmandu, starting at 11:30 a.m.

    One of the key agendas for the AGM is the proposal to issue an Initial Public Offering (IPO) to the general public. Additionally, the meeting will address matters such as endorsing the auditor’s report, profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 will also be considered. Another agenda involves empowering the Board of Directors to make essential amendments, additions, reductions, or alterations in the Articles of Association and Regulations during the issuance of the IPO.

    ICRA Nepal has reaffirmed Sarbottam Steel Limited’s long-term rating of [ICRANP] LBB- and the short-term rating of [ICRANP] A4 for both fund-based and non-fund-based limits. The company was originally established as a private limited entity in 2017, promoted by the Saurabh Group, and was converted into a public limited company in July 2021. Sarbottam Steel Limited specializes in manufacturing billets and TMT (Thermo-Mechanically Treated) with installed capacities of approximately 264,000 MT and 235,000 MT, respectively. The production facility, located in Beluwa of Parsa district, commenced commercial operations in August 2022. Mr. Bishnu Prasad Neupane, the chairman and managing director, holds around 25% of the paid-up capital, while the remainder is owned by various individual and institutional shareholders.

  • NEPSE Gains 35.39 Points to Settle at 2,141.87 Levels With 7 Arba Turnover: Fifteen Companies Hit Positive Circuit

    NEPSE Gains 35.39 Points to Settle at 2,141.87 Levels With 7 Arba Turnover: Fifteen Companies Hit Positive Circuit


    The Nepal Stock Exchange (NEPSE) Index registered a gain of 35.39 points, equivalent to 1.68% over the previous day’s closing, concluding at 2,141.87 points. The preceding trading day had seen an increase of 45.98 points for the index.

    The market kicked off with the index opening at 2113.94, hitting an intraday low of 2,110.76, and reaching an intraday high of 2,150.98.

    Today’s trading activity involved 306 different stocks traded in 111,723 transactions. The total volume of shares traded amounted to 19,963,604, resulting in a turnover of Rs. 7.00 Arba. The market capitalization stood at Rs. 33.16 Kharba, with a float market capitalization of Rs. 11.46 Kharba.

    SHIVAM CEMENTS LTD (SHIVM) led in turnover, reaching Rs. 37.34 crores, and closed at a market price of Rs. 613. Notably, fifteen companies experienced positive circuit hits for the day.

    Conversely, Kumari Dhanabriddhi Yojana (KDBY) suffered the highest loss of 3.82% during the day.

    In terms of sector indices, all sectors closed in positive territory, except for “Hotels And Tourism Index and Non-Life Insurance.” The “Manufacturing And Processing” sector recorded the highest gain of 7.15%, while the “Hotels And Tourism Index” saw a loss of 1.89%.

  • Government Sets Minimum Purchase Price for Sugarcane to Boost Farmer Compensation

    Government Sets Minimum Purchase Price for Sugarcane to Boost Farmer Compensation


    During a recent Cabinet meeting held at Singhadurbar, the government made a significant decision to establish the minimum purchase price for sugarcane at Rs 635 per quintal. The official announcement of this decision was made by government spokesperson Rekha Sharma.

    As per the newly implemented regulation, sugarcane mills are now required to directly pay Rs 565 per quintal to the farmers. Additionally, the government will extend a subsidy of Rs 70 per quintal to support farmers involved in the sugarcane industry.

    Spokesperson Sharma also revealed that the meeting involved a comprehensive review of the government’s progress over the past year. Chief Secretary Dr. Baikuntha Aryal presented insights during the session, emphasizing the urgency to expedite government activities and enhance decision-making processes, laws, and legislation.

    This decision is anticipated to have a positive impact on sugarcane farmers, ensuring they receive fair and reasonable compensation for their produce. Ultimately, it is expected to contribute to the overall growth and sustainability of the agricultural sector.

  • NEPSE Index Surges to Five-Month High: A Overview of Today’s Market Trends

    NEPSE Index Surges to Five-Month High: A Overview of Today’s Market Trends


    The Nepal Stock Exchange (NEPSE) Index showed significant growth, increasing by 45.98 points or 2.23% from the previous day’s closing, concluding at 2,106.48 points. This marks the highest point the NEPSE has reached in almost five months, following a gain of 38.14 points in the preceding trading day.

    The market opened at an index of 2065.06, hitting an intraday low of 2,053.27, and reaching an intraday high of 2,107.32. Today’s trading activity involved 313 different stocks traded in 99,641 transactions. The total volume of shares traded amounted to 16,457,138, resulting in a turnover of Rs. 5.98 Arba. The market capitalization stood at Rs. 32.61 Kharba, with a float market capitalization of Rs. 11.29 Kharba.

    Notably, SHIVAM CEMENTS LTD (SHIVM) led in turnover, reaching Rs. 37.43 crores, and closed at a market price of Rs. 594. Eleven companies experienced positive circuit hits for the day, with a noteworthy emphasis on cement companies. On the contrary, Siddhartha Investment Growth Scheme – 2 (SIGS2) suffered the highest loss of 7.26% during the day.

    In terms of sector indices, all sectors closed in positive territory, with the “Hotels And Tourism Index” registering the highest gain at 6.94%, while the “Finance Index” recorded a more modest gain of 0.42%.

  • “Nepal Handicraft Fair Wraps Up with Rs 20 Million in Transactions, Emphasizing Global Market Promotion”

    “Nepal Handicraft Fair Wraps Up with Rs 20 Million in Transactions, Emphasizing Global Market Promotion”


    The handicraft fair in the federal capital, which took place from December 14 to 18, recently concluded with a reported transaction sum of Rs 20 million, as disclosed by the Nepal Handicrafts Federation. The central goal of the event was to enhance the global market presence of Nepali handicrafts.

    Various provincial and district handicrafts associations, alongside commodity associations, actively participated in the fair, displaying a wide array of products such as jewelry, cotton clothes, pashmina, leather goods, natural fibers, and bamboo items. Featuring approximately 120 sales stalls, the fair sought to fortify commercial connections between domestic entrepreneurs and handicraft importers.

    Ram Krishna Chitrakar, the Industry Minister at Bagmati Province, highlighted the substantial impact of handcrafted goods on the national economy. He emphasized that these products not only contribute to foreign currency earnings but also play a vital role in promoting entrepreneurship and generating employment. Chitrakar stressed the importance of safeguarding and expanding this sector.

    According to the Nepal Handicrafts Federation, the country presently exports handicrafts to more than 60 nations, with the overall market value estimated at Rs 24 billion. Around 1.1 million individuals are involved in this sector, making a significant contribution to both the national economy and the creation of job opportunities.

    On an annual basis, Nepal exports handicrafts amounting to Rs 12 billion, indicating the robust presence of the sector in the global market.

  • Nepal Lube Oil Proposes 30% Dividend for FY 2079/80; Calls 32nd AGM

    Nepal Lube Oil Proposes 30% Dividend for FY 2079/80; Calls 32nd AGM


    Nepal Lube Oil Limited (NLO) has proposed a 30% dividend for the fiscal year 2079/80 and has scheduled the 32nd Annual General Meeting (AGM) on Poush 25, 2080. The decision to propose a 30% dividend, comprising 25% bonus shares and 5% cash dividends, was made during the 371st meeting of the board of directors held on Poush 01. The company’s current paid-up capital stands at Rs. 4.86 Crores.

    Additionally, the AGM will address the endorsement of the auditor’s report, including profit and loss statements, financial reports, and cash flow reports for the fiscal year 2079/80. There will also be a crucial agenda item to appoint an auditor for the fiscal year 2080/81.

    Investors are notified that the book closure date is set from Poush 10 to Poush 24. Consequently, shareholders who maintain their shares before this date will be eligible for the dividend payout and can also participate in the upcoming AGM. As of the last trading day, NLO closed at Rs. 282.40.