Upper Lohore Hydropower Company Limited has announced its plan to issue an Initial Public Offering (IPO) to the general public. The IPO will consist of 19,53,279 unit shares with a face value of Rs 100 each, starting from 18th Shrawan, 2080. The company aims to raise Rs 19.53 crore through this offering. The closing date for the IPO is initially set for the 22nd Shrawan, but it can be extended up to the 32nd Shrawan, 2080, if the issue is not fully subscribed by then.
Laxmi Capital Market Limited has decided to extend the deadline for their mutual fund scheme “Laxmi Value Fund-II” until the 19th of Shrawan. Initially, the issue was open from the 5th to the 9th of Shrawan, 2080, but due to a lack of sufficient applications, they have extended the closing date. The scheme offers 8 crore unit shares at a par value of Rs 10 per share, with 15% (1.20 crore units worth Rs. 12 crore) reserved for the fund sponsor Former Laxmi Bank Limited, and the remaining 6.80 crore units will be available to the general public from the 5th of Shrawan.
The Nepal Rastra Bank (NRB) is preparing to announce the monetary policy for the ongoing fiscal year 2080-81, which is expected to be publicized by the end of the first week of Shrawan. Narayan Prasad Pokhrel, the Deputy Spokesperson and Information Officer of NRB, revealed in a phone conversation with Sharesansar that the central bank has devised internal procedures to ensure the monetary policy is made public by Shrawan 07, which falls on the upcoming Sunday.
Narayan Prasad Pokhrel stated, “The internal procedures of the Nepal Rastra Bank have been designed in a way that allows for the monetary policy to be publicized by Shrawan 07.” This indicates that the necessary steps and protocols have been put in place within the central bank to ensure the timely release of the monetary policy.
In related news, Governor Maha Prasad Adhikari of NRB is expected to return to Nepal from his foreign trip on Wednesday. Previously, there were reports that a delegation of 28 members, led by the governor himself, would be traveling to Canada. The purpose of this trip was to engage in discussions with the assessment team of the Financial Action Task Force (FATF) in order to prevent Nepal from being placed on the “grey list” for money laundering.
The announcement of the monetary policy by the NRB is an important event that will have implications for the fiscal year 2080-81 in Nepal. It is expected that Governor Maha Prasad Adhikari’s return from his foreign trip will coincide with the release of the monetary policy, indicating that the central bank is actively addressing both domestic and international financial matters.
Barun Hydropower Company Limited (BARUN) has announced its plans to hold a Special General Meeting (SGM) on the 14th of Shrawan, 2080. The meeting is scheduled to take place at Lord Party Venue in Dhumbarahi and will commence at 1 pm.
During the SGM, BARUN will propose a 1:1 ratio rights offering, equivalent to 100% of the company’s paid-up capital, which currently stands at Rs. 53.58 Crores. It is important to note that the issuance of these right shares is subject to approval from the regulatory bodies. If approved, the issuance will result in an increase in the company’s paid-up capital to Rs. 1.07 Arba.
Considering the potential increase in the company’s capital after the issuance of the right shares, the SGM will also address the need for amending relevant sections of the Articles of Association. The purpose of these amendments is to align the Articles of Association with the updated capital structure. Furthermore, the shareholders will be asked to grant full authority to the Board of Directors (BoDs) to carry out the necessary work related to the amendments, as guided by the regulatory board.
It should be noted that the book closure date for the SGM is set for Shrawan 05. Shareholders who maintain their ownership before this date will be eligible to attend the meeting and participate in the decision-making process.
Ngadi Group Power Limited (NGPL) has scheduled a Special General Meeting (SGM) to take place on the 14th of Shrawan, 2080. The meeting will be held at Lord Party Venue in Dhumbarahi and is set to commence at 10 am on that day.
The SGM will address several important agendas, including the endorsement of 100% right shares based on the company’s current paid-up capital of Rs. 1.85 Arba. Another item on the agenda is the proposed change in the company’s location, which will require amending the Articles of Association subsequent to the issuance of the right shares. The shareholders will be asked to grant full authority to the Board of Directors (BoDs) to execute the necessary actions related to these amendments in accordance with the guidance provided by the regulatory board. Additionally, the meeting will discuss the repayment of debt incurred by the company.
It is important to note that the book closure date is set for Shrawan 04. Shareholders who maintain their ownership before this date will be eligible to attend the SGM.
Upper Lohore Hydropower Company Limited has provided updates regarding its initial public offering (IPO) of shares. The IPO is now closed to Nepalese citizens working abroad as of the 21st of Ashad, 2080. However, the deadline for project-affected locals in the Dailekh District has been extended until the 5th of Shrawan. The IPO process started on the 7th of Ashad, 2080.
The company’s issued capital is Rs. 50.98 Crores, with 10% of the shares, worth Rs. 5.09 crores, allocated to project-affected locals in Dailekh District. Another 39% of the company’s issued capital, equivalent to 19,88,236 units, will be offered to the general public at a later date. Within the public issue, 10% of the shares, totaling 198,824 units, are reserved for Nepalese citizens working abroad, and the closing date for their participation is today.
The minimum application quantity for both project-affected locals and Nepalese citizens working abroad is 10 units, while the maximum is 25,000 units.
NIC Asia Capital Limited is the appointed issue manager, and after the IPO, the promoter-public share ratio will be 51:49.
According to the Central Depository System and Clearing Limited (CDSC), 23,846 applications have been received from Nepalese citizens working abroad, with a total of 585,570 units applied for so far.
The Upper Lohore Hydropower Company Limited has been assigned a ‘CARE-NP BB- (Is)’ rating by Credit Rating Nepal Limited (CRNL), indicating a moderate risk of default regarding financial obligations in Nepal.
Established as a private limited company on November 10, 2017, the Upper Lohore Hydropower Company Limited has since become a public limited company. The company’s main focus is the development of the Upper Lohore Hydropower Project in the Dailekh district, with a capacity of 4MW as a run-of-the-river type project.
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.
The Electricity Regulatory Commission has given preliminary approval to Synergy Power Development Company (SPDL) to issue a 2: 1 right offering. On Kartik 17, 2079, the application for the issuance of right shares was submitted to ERC.
On Shrawan 24, 2078, the board of directors proposed issuing 50% right shares on the paid-up capital after adjusting 10% bonus shares for fiscal year 2077/78, i.e. Rs. 80,65,75,000. The company’s paid-up capital will rise to Rs. 120.98 crores after the proposed right share is adjusted.