Kumari Bank Limited (KBL) is conducting an auction to sell 757,699 units of promoter shares to the general public. The auction will take place from the 22nd to the 29th of Ashad, 2080. Individuals, companies, and institutions are all allowed to participate in the auction, with a minimum bid rate of Rs. 110. Bidders must bid for at least 1,000 units of promoter shares and are not allowed to exceed the specified quantity of shares per entity set by the Nepal Rastra Bank.
Nepal Infrastructures Investment Fund Limited has announced its plans to hold the 1st Special General Meeting (SGM) on the 7th of Shrawan, 2080. The meeting will take place in Jhamsikhel, Lalitpur, and is scheduled to commence at 10 am on the aforementioned day.
The SGM will address several important agendas that require the attention and participation of the shareholders. Firstly, there will be a proposal to amend the Articles of Association, which are the fundamental rules governing the company’s operations. This suggests that certain changes or updates are being considered to ensure the smooth functioning and adaptability of the organization.
Additionally, another significant item on the agenda is the issuance of 100% right shares from the company’s paid-up capital. This means that existing shareholders will have the opportunity to acquire additional shares in proportion to their existing holdings. The Board of Directors (BODs) will be entrusted with the responsibility of overseeing this process, granting them full authority in its execution.
Furthermore, the meeting aims to discuss the recruitment of strategic founding investors following the issuance of the right shares. This indicates the company’s intention to bring in new investors who can contribute strategically to the growth and development of the organization. By attracting these investors, Nepal Infrastructures Investment Fund Limited aims to strengthen its financial position and gain valuable expertise and resources.
It is important to note that the book closure date has been set for Ashad 28. This means that only shareholders registered before this date will be eligible to attend the SGM. Therefore, shareholders are urged to ensure their registration is completed before Ashad 28 to participate in this significant meeting.
Overall, the 1st Special General Meeting of Nepal Infrastructures Investment Fund Limited holds great importance for the company and its shareholders. The proposed agendas, including the amendment of the Articles of Association, issuance of right shares, and recruitment of strategic founding investors, reflect the company’s efforts to enhance its operations and secure a strong financial foundation for future growth.
NLG Insurance Company has received permission from the Nepal Insurance Authority (NIA) to issue 66% right shares. The company’s board meeting, held last Friday, approved the decision for capitalization. NLG Insurance will now seek approval from the Securities Board of Nepal (SEBON) for the rights issuance. Once SEBON grants permission, the company will distribute the rightful shares to its shareholders.
Ngadi Group Power Limited (NGPL) has proposed to offer 100% rights shares to its existing shareholders. The proposal was made during a recent Board of Directors meeting.
NGPL’s Siurikhola Small Hydropower Project, located in Lamjung District, Gandaki Province, with a capacity of 4.95 MW, has been performing well due to regular maintenance. However, additional funds are needed to maintain existing projects, settle payments, invest in new projects, attract investments, create jobs, and increase national capital.
To address this funding requirement, NGPL aims to issue rights shares in a 1:1 ratio to its current shareholders. This will increase the company’s paid-up capital from Rs. 1.85 Arba to Rs. 3.7 Arba.
Approval from the Electricity Regulatory Commission and subsequent endorsement at the Annual General Meeting (AGM) are necessary for the issuance of the rights shares.
NGPL had previously issued 150% rights shares to its shareholders.
As of July 02, NGPL shares were trading at Rs. 241.
India’s regulatory authority for the capital market, the Securities and Exchange Board of India (SEBI), has announced a significant reduction in the time required to list shares after an initial public offering (IPO). Previously, shares could be listed within 6 days of the IPO sale’s closure, but now this timeline has been cut in half. According to the new system, companies are required to list their shares within 3 days after the IPO sale concludes. SEBI has stated that this change will be voluntarily implemented starting from September 1, 2023, and will become mandatory from December 1, 2023.
Barun Hydropower Company Limited (BARUN) has decided in its recent Board of Directors meeting to issue 100% right shares, which means one additional share for every existing share. Currently, BARUN has 5,358,150 unit shares listed on the Nepal Stock Exchange (NEPSE) and a paid-up capital of Rs. 53.58 Crores. If the issuance of the right shares is approved by the regulatory bodies and endorsed at the upcoming Annual General Meeting (AGM), the paid-up capital will increase to Rs. 1.07 Arba.
Dibyashwori Hydropower has chosen Mega Capital Market as the issue manager for its upcoming right shares offering to its existing shareholders. According to a media statement, the company will be issuing shares in a 1:1 ratio. A memorandum of understanding (MoU) was signed between the acting CEO of Mega Capital Market, Sulav Shrestha, the marketing head of the bank, Giriraj Pokharel, and the chairman of Dibyashwori Hydropower, Dadiram Niraula, along with Buddha Krishna Manandhar from the hydropower company. The signing took place during a program, as mentioned in the media statement.
Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) recently listed 5,14,116.29 unit bonus shares on the Nepal Stock Exchange (NEPSE). During its 9th Annual General Meeting held on the 11th of Chaitra, the company approved an 18% dividend amounting to Rs. 6.16 Crores for the fiscal year 2078/79. Furthermore, in a board meeting on Magh 20, it was decided to distribute 15% bonus shares worth Rs. 5.14 crore and a 3% cash dividend worth Rs. 1.02 crore from the company’s paid-up capital of Rs. 34.27 Crores. These bonus shares are now available for trading on NEPSE.
“Manakamana Engineering Hydropower Limited Announces IPO for Locals and Nepalese Citizens Abroad”
Manakamana Engineering Hydropower Limited has released an offer letter for an Initial Public Offering (IPO) specifically targeting project-affected locals from Dolakha District and Nepalese citizens working abroad. The IPO will be open for subscription from the 19th of Ashad to the 2nd of Shrawan, 2080. It is important to note that if the issue is not fully subscribed by the early closing date, it may be extended until Shrawan 17 for the locals of Dolakha District. However, the early closing date will remain fixed for Nepalese citizens working abroad, and no extension will be granted beyond that date.
“Him Star Urja Company Limited’s IPO Proposal Under SEBON Review”
Him Star Urja Company Limited has submitted a proposal to SEBON, the capital market regulator, for an initial public offering (IPO). The company plans to issue 1,119,000 shares, which will generate a capital of Rs. 11.19 crores. The application was submitted on Jestha 31, 2080. NIC Asia Capital has been appointed as the issue manager for the public offering.
Dibyashwari Hydropower Company Limited (DHPL) recently held a Board of Directors (BOD) meeting where they proposed to issue 100% right shares to their shareholders. Currently, DHPL has 2,640,000 unit shares listed in the Nepal Stock Exchange (NEPSE) and a paid-up capital of Rs. 26.40 Crores. With the issuance of the proposed right shares, the company’s paid-up capital will increase to Rs. 52.8 Crores. DHPL intends to utilize the funds raised from this issuance to clear the loans it has taken from banks.
Jyoti Bikash Bank Limited (JBBL) is offering 168,496 units of promoter shares for sale through a public auction. The auction is open to individual investors, companies, and institutions, and will take place from the 10th to the 17th of Ashad, 2080. The minimum bid rate is set at Rs. 126, and the minimum bid quantity for the promoter shares is 1,000 units. While bidders can bid for the entire issue, they must adhere to the Nepal Rastra Bank’s regulation, which specifies a maximum quantity of shares per entity that should not be exceeded.