Tag: times

  • “Kutheli Bukhari Small Hydropower IPO Allotment: Oversubscribed 103.62 Times, Only 10,115 Applicants to Secure Ownership”

    “Kutheli Bukhari Small Hydropower IPO Allotment: Oversubscribed 103.62 Times, Only 10,115 Applicants to Secure Ownership”


    The IPO allotment of Kutheli Bukhari Small Hydropower Limited is scheduled to take place on Sunday, the 7th of Shrawan, 2080. The allotment program will be conducted at the premises of the issue manager, NMB Capital Limited, located in Nagpokhari, Kathmandu, starting at 9 am.

    Out of the total 121,867 units offered for the IPO, specific allocations were set aside for various categories. 10% of the shares, i.e., 12,186 units, were issued and allotted to Nepalese citizens working abroad, while 5% of the total offered shares, equivalent to 6,093 units, were reserved for mutual funds. An additional 2%, i.e., 2,437 units, were set aside for the employees of the company. The remaining 101,151 units were offered to the general public. After the IPO issuance, the paid-up capital of the company will increase to Rs. 12.18 Crores, with the intention to raise Rs. 1.01 crore from this offering.

    According to data provided by the Central Depository System and Clearing Limited (CDSC), the IPO received an overwhelming response, with approximately 973,353 applications filed for a total of 10,481,890 units till the last day. This indicates that the IPO was oversubscribed by an impressive 103.62 times in terms of the number of units through ordinary applicants as of the closing day.

    Considering the data, it becomes evident that only 10,115 fortunate applicants will be selected to become shareholders of the company.

    Kutheli Bukhari Small Hydropower Ltd. was initially incorporated on August 11, 2011, as a private limited company and was later converted into a public limited company on January 28, 2015, to facilitate public participation. The company is currently operating a 0.998-Megawatt Suspa Bukhari Khola Small Hydro Power Plant (HPP) in the Dolakha district of Madhesh Province, Nepal. The project follows a run-of-the-river (R-o-R) type approach with a 40% probability of exceedance (Q40). It commenced commercial operations on September 20, 2015, and was developed at a total cost of approximately NPR 248 million.

  • IME Life Insurance IPO Oversubscribed 1.4 Times with 10.84 Lakh Applicants

    IME Life Insurance IPO Oversubscribed 1.4 Times with 10.84 Lakh Applicants


     

    IME Life Insurance Company Limited is concluding the issuance of 96,00,000 unit shares to the general public starting from today, which is the 25th of Ashad. The issuance began on the 21st of Ashad, 2080.

    The company has an issued capital of Rs. 4 Arba, out of which 30% or 1,20,00,000 unit shares are allocated for the public, including Nepalese citizens working abroad and the general public. Among the total shares issued, 10% or 12,00,000 unit shares were reserved for Nepalese citizens working abroad, while 5% or 600,000 units were set aside for the employees of the company. Additionally, 5% or 600,000 units were allocated for mutual funds. The remaining 96,00,000 units are being offered to the general public.

     

  • Upper Syange Hydropower’s IPO Oversubscribed 18.43 Times; Last Day to Apply.

    Upper Syange Hydropower’s IPO Oversubscribed 18.43 Times; Last Day to Apply.


    Upper Syange Hydropower Limited has announced the closure of its Initial Public Offering (IPO) for 539,500 shares with a face value of Rs 100 each. The IPO was open to the general public from July 10th, 2080, and concluded on July 13th, 2080. The company aimed to raise Rs 5.39 crore from this offering, which will increase its paid-up capital to Rs 22 crores. Out of the total 650,000 units, 10% (65,000 units) were allotted to Nepalese citizens working abroad, 5% (32,500 units) were reserved for mutual funds, and 2% (13,000 units) were set aside for the company’s employees. The remaining 539,500 units were available for the general public to purchase.

     

  • Ghorahi Cement Industry IPO Oversubscribed as Public Shows Strong Interest

    Ghorahi Cement Industry IPO Oversubscribed as Public Shows Strong Interest


    Ghorahi Cement Industry Limited, a company in Nepal, has recently issued an Initial Public Offering (IPO) to the general public. The IPO consists of 69,11,670 unit shares priced at Rs 435 per unit, including a premium of Rs 335. The offer opened on 32nd Jestha, 2080 and is scheduled to close on 4th Ashad, with a possible extension until 14th Ashad if it is not fully subscribed.

    The allocation of shares includes 20% for project-affected locals, 606,350 units for Nepalese citizens working abroad, 328,961 units for mutual funds, and 19,530 units for company employees. The remaining 69,11,670 units are available for the general public. The IPO is expected to generate Rs. 3.44 Arba for the company, with Rs 2.65 Arba as the premium amount and the rest contributing to the paid-up capital.

    The IPO has garnered significant interest from investors, as the number of applications received so far has surpassed the available shares. According to CDSC, 288,456 applicants have applied for a total of 98,02,460 units, resulting in an oversubscription of 1.42 times.

    Himalayan Capital Limited and Nabil Investment Banking Limited have been appointed as the issue managers for the IPO. The application process allows a minimum of 10 units and a maximum of 10,00,000 units to be applied for.

    CARE Ratings Nepal Limited has assigned a rating of `CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited. This rating signifies a moderate degree of safety in terms of the company’s ability to meet its financial obligations in a timely manner.

    Overall, the IPO of Ghorahi Cement Industry Limited has attracted significant investor interest, surpassing expectations and demonstrating confidence in the company’s prospects.

  • Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance

    Nepal Republic Media Limited Concludes Oversubscribed IPO Issuance


    Nepal Republic Media Limited, the publication house behind Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, is closing the issuance of its Initial Public Offering (IPO) today, on Jestha 30, 2080. The IPO opened on Jestha 26, 2080.

    The company has an issued capital of Rs. 96.75 crores, out of which 44.99% or 43,53,000 unit shares worth Rs. 43.53 crores have been allocated to the general public. Among these shares, 10% (4,35,300 units) were specifically issued to Nepalese citizens working abroad, while 4% (174,120 units) have been reserved for the employees of the company. Additionally, 5% (217,650 units) of the total shares on offer have been set aside for mutual funds. The remaining 35,25,930 units are available for the general public.

    Mega Capital Markets has been appointed as the issue manager for this IPO issuance. The minimum application quantity allowed for both the general public and Nepalese citizens working abroad is 10 units, while the maximum quantity is set at 500 units.

    According to the Central Depository System and Clearing Limited (CDSC), a total of 983,200 applicants have applied for a combined total of 10,743,740 units as of yesterday evening. This indicates that the IPO has been oversubscribed by a factor of 2.96 times so far.

    Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned Nepal Republic Media Limited an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. This rating suggests a higher risk of default in terms of timely financial obligations.

    Nepal Republic Media Limited, incorporated in August 2008 as New Republic Media Private Ltd and later converted to Nepal Republic Media Ltd in June 2021, is the first media sector company to issue an IPO to the general public. The company, founded by Mr. Binod Raj Gyawali, aims to disseminate news through its various publications.

  • Rawa Energy Development Limited’s IPO Allotment Oversubscribed 19.82 Times, Set for Tuesday

    Rawa Energy Development Limited’s IPO Allotment Oversubscribed 19.82 Times, Set for Tuesday


    The IPO allotment of Rawa Energy Development Limited is scheduled to take place on Tuesday, 30th Jestha, 2080. The allotment program will be conducted at the premises of Prabhu Capital Limited, located in Kamaladi, Kathmandu, at 4 pm. The company had offered 643,667 unit shares with a face value of Rs 100 to the general public. Out of the total shares available, 56,000 units were specifically allocated to Nepalese citizens working abroad, while 37,616 units were set aside for mutual funds. Additionally, 15,047 units were reserved for the company’s employees, leaving the remaining 643,667 units open for the general public.

    According to data provided by CDSC (Central Depository System and Clearing Limited), the IPO received a significant response, with approximately 1,165,526 applications submitted, requesting a total of 12,761,480 units of shares by the closing day. This indicates that the IPO was oversubscribed by an impressive 19.82 times in terms of the number of units applied for by ordinary applicants.

    Analyzing the data, it becomes evident that out of the numerous applications received, only 64,366 fortunate applicants will be granted ownership of the company through the IPO allotment process.

    In terms of issuer ratings, CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating indicates that issuers with such a rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations within Nepal

  • Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times

    Rawa Energy Development Limited to Conduct IPO Allotment, Oversubscribed by 19.82 Times


    Rawa Energy Development Limited is set to conduct the IPO allotment on Tuesday, 30th Jestha, 2080. The allotment program will take place at the premises of Prabhu Capital Limited, the issue manager, located in Kamaladi, Kathmandu, at 4 pm.

    During the IPO, the company had issued a total of 643,667 unit shares with a face value of Rs 100 to the general public. Out of the overall 752,330 units available, 56,000 units were allotted to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated for the company’s employees. The remaining 643,667 units were open to the general public.

    As per data provided by CDSC (Central Depository System and Clearing Limited), the IPO received approximately 1,165,526 applications, requesting a total of 12,761,480 units of shares by the closing day. This indicates that the IPO was oversubscribed by 19.82 times in terms of the number of units applied for by ordinary applicants.

    Considering the data, it can be concluded that only 64,366 fortunate applicants will be allotted shares and become owners of the company.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating suggests that issuers with such a rating have a moderate risk of default regarding the timely servicing of financial obligations within Nepal.

  • Unique Nepal Laghubitta Bittiya Sanstha Limited Concludes FPO Issuance, Oversubscribed 39.4 Times

    Unique Nepal Laghubitta Bittiya Sanstha Limited Concludes FPO Issuance, Oversubscribed 39.4 Times


    Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) is concluding the issuance of its 379,425 unit FPO (Further Public Offering) shares to the general public. The issue, which began on 11th Jestha, 2080, will close today on 17th Jestha.

    Currently, the company has a paid-up capital of Rs. 11.06 crores, with 94.01% of shares (10,40,025 units) held by promoter shareholders and 5.99% (66,300 units) held by public shareholders. However, as per the requirements of the Banks and Financial Institutions Act of 2073 and the NRB (Nepal Rastra Bank), a minimum of 30% of the issued capital must be retained by public shareholders. Therefore, the company will issue 3,79,425 units of FPO shares to the general public. After the FPO, the promoter-to-public share structure will change from 94:6 to 70:30.

    It is important to note that Unique Nepal Laghubitta had initially planned to issue an IPO for 2.70 lakh shares. However, following a successful merger with Ghodighoda Laghubitta, the joint operation under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited commenced on 30th Poush, 2078. As Ghodighoda Laghubitta was already a publicly listed company, the merged entity opted for an FPO to adjust the shareholding ratio.

    The company aims to raise Rs. 3.79 crore through this FPO. Muktinath Capital Limited has been appointed as the issue manager for the FPO. Investors can apply for a minimum of 10 units and a maximum of 1000 units. The paid-up capital of the company will increase to Rs. 14.85 crores after the issuance of the mentioned FPO shares.

    According to CDSC (Central Depository System and Clearing Limited), a total of 12,85,226 applications have been received, requesting a total of 14,961,420 units. As a result, the issue is already oversubscribed by 39.4 times.

  • City Hotel Limited Concludes IPO Allotment, Oversubscribed by 8.72 Times

    City Hotel Limited Concludes IPO Allotment, Oversubscribed by 8.72 Times


    City Hotel Limited has successfully concluded the initial public offering (IPO) allotment process at Hyatt Place in Soalteemode, Kathmandu. The company had offered 13,55,940 units of shares with a total value of Rs. 13.55 crores to the general public from Baisakh 25 to 28, 2080.

    Out of the total 16,74,000 units, 10% (1,67,400 units) were allotted to Nepalese citizens working abroad, while 4% (66,960 units) were set aside for the company’s employees. Additionally, 5% of the offered shares (83,700 units) were reserved for mutual funds. The remaining 13,55,940 units were made available for the general public.

    Following the IPO allotment, the company’s total paid-up capital would amount to Rs. 1.67 Arba.

    Global IME Capital Limited was appointed as the issue manager for the IPO issuance. The company received applications from 10,87,675 valid applicants, with a total demand for 1,18,33,710 units. The IPO was oversubscribed by more than 8.72 times.

    Based on the allotment module, a total of 1,35,594 applicants were allotted 10 units each through a lottery system, while the remaining 9,52,081 applicants were not allocated any units.

    Furthermore, 83,700 units were allotted to mutual funds, and 66,960 units were allocated to the employees of the company. However, 4,992 applicants who had applied for 61,660 units were disqualified and did not receive any shares.

  • Modi Energy Limited’s IPO oversubscribed by 2.14 times; Issue to close today

    Modi Energy Limited’s IPO oversubscribed by 2.14 times; Issue to close today


    Modi Energy Limited is wrapping up its IPO issuance of 55,59,420 unit shares worth Rs. 100 each to the general public from today i.e. May 7, 2023. The issue was opened on May 1, 2023. However, the IPO issue is already oversubscribed by 2.14 times so far as 1,062,761 applicants have applied for a total of 11,915,310 units.

    The company had issued 29,00,000 unit shares worth Rs. 29 crores to the project-affected locals of Parbat District out of which only 804,390 units or 27.73% were allotted to valid applicants. Thus, the remaining 20,95,610 units of unsubscribed shares of project-affected locals are added to 43,50,000 units reserved for the general public to make a total of 64,45,610 units for the general public.

    Sunrise Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 100,000 units. The IPO shares are for the Hydroelectric Project (HEP) of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project (TMKHP) constructed under the “BOOT” (Build, Own, Operate, and Transfer) model in the Parbat district of Nepal. It came into operation on September 30, 2021.

    The company has been promoted by institutional promoters and individual businessmen with long experience in various sectors for setting up the hydroelectric project. Overall, 75% of shares are of the promoter shareholders in the company. CARE Ratings Nepal Limited (CRNL) has revised the Issuer Rating of Modi Energy Limited to “CARE-NP D (Is)” from “CARENP BB+ (Is)”. Issuers with this rating are considered to be in default or are expected to be in default soon.

    The IPO shares have already attracted significant interest from the public, and it remains to be seen how the company performs in the coming years.

  • Menchhiyam Hydropower IPO has raised Rs. 92.58 crores as of the third day.

    Menchhiyam Hydropower IPO has raised Rs. 92.58 crores as of the third day.


     

    CDS & Clearing Limited (CDSC) has submitted the statistics of Menchhiyam Hydropower Limited’s public IPO collecting as of 10 a.m. today, Baisakh 06.

    Since the 4th of Baisakh, 2080, the corporation has been issuing 934,915 unit shares of Rs 100 face value as an Initial Public Offering to the general public. This issue’s early closure date is the 7th Baisakh, and if it is not completely subscribed, it can be prolonged until the 19th Baisakh, 2080.

  • From today, City Hotel Limited will close its initial public offering (IPO) for Nepalese working abroad.

    From today, City Hotel Limited will close its initial public offering (IPO) for Nepalese working abroad.


    City Hotel Limited is ending the issue of 1,67,400 unit shares of Rs 100 face value to Nepalese citizens working abroad today, on the 5th Baisakh, 2080. The issue debuted on Chaitra 21, 2079.

    Similarly, on the 25th of Baisakh, 2080, the corporation would issue 13,55,940 unit shares with a face value of Rs 100 to the general public. This issue’s early closure date is on 28th Baisakh, and if it is not completely subscribed, it can be prolonged until 8th Jestha, 2080.

    Out of the total 16,74,000 units, 10%, or 1,67,400 units, have been set aside for Nepalese residents working abroad, 4%, or 66,960 units, have been put aside for the company’s workers, and 5% of the total given have been set aside for the general public.