Tag: Today

  • Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore

    Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore


    Rawa Energy Development Limited has announced the opening of its initial public offering (IPO) of 643,667 unit shares with a face value of Rs. 100 per share. The IPO subscription period begins on 18th Jestha, 2080 and ends on 22nd Jestha. In the event of undersubscription, the closing date may be extended until 32nd Jestha, 2080.

    Previously, the company had issued 280,000 unit shares worth Rs. 2.8 crores to project-affected locals in Khotang District. However, only 87,370 units were allotted to valid applicants, leaving 192,330 units unsubscribed. These remaining shares, along with 560,000 units (20% of the issued capital) reserved for the general public, make up a total of 752,330 units available for the general public.

    Out of the total 752,330 units, 56,000 units have already been issued and allotted to Nepalese citizens working abroad, while 37,616 units have been set aside for mutual funds, and 15,047 units have been reserved for the company’s employees. The remaining 643,667 units are offered to the general public.

    The company aims to raise Rs. 6.43 crore through this IPO. Prabhu Capital Limited has been appointed as the issue manager for the IPO, and interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating suggests a moderate risk of default in terms of timely financial obligations in Nepal.

    Rawa Energy Development Ltd, initially incorporated as a private limited company on August 16, 2009, later converted to a public limited company on June 28, 2019. The company is promoted by experienced individuals in the hydropower and other sectors, with a focus on developing hydroelectric projects in Nepal. The company’s flagship project is the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District, which has been in commercial operation since September 20, 2020. The project follows the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Gold Surges to New All-Time High in Nepalese Market, Gaining Rs. 500 per Tola

    Gold Surges to New All-Time High in Nepalese Market, Gaining Rs. 500 per Tola


    The price of gold in the local market has reached a new all-time high, increasing by Rs. 500 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is currently being traded at Rs. 112,500 per tola, while Tejabi gold is being traded at Rs. 111,950 per tola. Yesterday, the rates were maintained at Rs. 112,000 and Rs. 111,450 per tola, respectively.

    Just the day before, gold prices had already reached an all-time high in Nepal, with fine gold priced at Rs. 112,000 per tola and Tejabi gold priced at Rs. 111,450 per tola. The continuous rise in gold prices has prompted discussions on the reasons behind the significant increase of Rs. 3,900 per tola in just two days in Nepal.

    In addition to gold, the price of silver has also experienced an increase of Rs. 15 per tola. Currently, silver is being traded at Rs. 1,410 per tola in the local market, compared to the previous day’s closing rate of Rs. 1,395 per tola.

  • Rawa Energy Development Limited Launches IPO Offering 643,667 Unit Shares for Public Subscription

    Rawa Energy Development Limited Launches IPO Offering 643,667 Unit Shares for Public Subscription


    Rawa Energy Development Limited has initiated the issuance of 643,667 unit IPO shares, with a face value of Rs 100 per share, starting from today, the 18th of Jestha, 2080. The IPO is set to conclude on the 22nd of Jestha, and if the subscription falls short, the deadline may be extended until the 32nd of Jestha.

    In the past, the company allocated shares worth Rs. 2.8 crores to project-affected locals in the Khotang District. However, only 31.2% of the shares, amounting to 87,370 units, were allotted to eligible applicants. Consequently, the remaining 192,330 units of unsubscribed shares from the project-affected locals are now combined with 560,000 units, which represents 20% of the issued capital and is reserved for the general public. This brings the total number of shares available for the general public to 752,330 units.

    Out of the total shares, 56,000 units have already been issued and allocated to Nepalese citizens working abroad, while 37,616 units have been set aside for mutual funds, and 15,047 units are reserved for the company’s employees. The remaining 643,667 units are now made available for the general public to participate in the IPO.

    The company aims to raise a total of Rs 6.43 crore from this IPO. Prabhu Capital Limited has been appointed as the issue manager to oversee the IPO process. Interested investors can apply for a minimum of 10 units and a maximum of 10,000 units.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited, indicating a moderate risk of default in terms of fulfilling financial obligations in Nepal.

    Rawa Energy Development Ltd is a public limited company that was initially incorporated as a private limited company on August 16, 2009, and subsequently converted to a public limited company on June 28, 2019. The company is promoted by experienced individuals with a strong background in the hydropower sector and other industries. Their focus is on establishing Hydroelectric Projects (HEP) in Nepal. The company currently operates the Upper Rawa Khola Small Hydropower Project (URKHP) with a capacity of 3 MW in the Khotang District. The project has been in commercial operation since September 20, 2020, and was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Sunrise Bank Limited Promoters Auction 122,045 Units of Shares to Public and Institutions

    Sunrise Bank Limited Promoters Auction 122,045 Units of Shares to Public and Institutions


    Sunrise Bank Limited (SRBL) has announced that the existing promoters of the bank will be auctioning 122,045 units of shares to the general public and institutions starting from today, which is the 18th of Jestha, 2080. Initially, the founder shareholders had issued a notice on the 7th of Baisakh, informing about the auction of these 122,045 units of promoter shares. However, since no applications were received during that period, the shareholders have decided to re-publish the notice and open the auction to the general public once again.

    Interested individuals, companies, and institutions are eligible to participate in the auction, and they have a period of 7 days from the date of this notice’s publication, which is the 18th of Jestha, to submit their bids. The minimum bid rate set for the auction is Rs. 125. Shareholders who wish to participate must submit their bids at the central office of the bank, located in Gairidhara, Kathmandu.

  • Ghorahi Cement Industry Concludes IPO for Project-Affected Locals, Generating Rs. 3.44 Arba

    Ghorahi Cement Industry Concludes IPO for Project-Affected Locals, Generating Rs. 3.44 Arba


    Ghorahi Cement Industry Limited is concluding the issuance of its Initial Public Offering (IPO) for project-affected locals today. The IPO, which opened on 18th Baisakh, aims to issue 79,43,801 unit shares to the public, including locals, Nepalese citizens working abroad, and the general public. Out of the total issued capital of Rs. 3.97 Arba, 1% or 397,190 unit shares have been allocated to project-affected locals of Dang District.

    The shares are being offered at a price of Rs. 400 per unit for locals and Rs. 435 per unit for Nepalese citizens working abroad, including a premium amount. The IPO will generate a total of Rs. 3.44 Arba for the company, with a significant portion being premium amounting to Rs. 2.645 Arba.

    Himalayan Capital Limited and Nabil Investment Banking Limited are the appointed issue managers for the IPO. After the IPO, the promoter-public share ratio will be 80:20. CARE Ratings Nepal Limited has assigned a rating of ‘CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited, indicating a moderate degree of safety regarding the timely servicing of financial obligations.

    Ghorahi Cement Industry Limited, formerly known as Ghorahi Cement Industry Private Limited, was established in August 2007. It operates an integrated cement manufacturing plant in the Dang Valley of Western Nepal. The company has a clinker capacity of 1,900 MTPD and a grinding capacity of 2,200 MTPD, with plans for further expansion. Ghorahi Cement Industry sells its products under the brand name “Sagarmatha” across Nepal, with a focus on the western and far-western regions of the country. The company has a network of 21 distributors throughout 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.

  • Lumbini Bikas Bank Limited Opens 11% Debenture 2089 Issuance to General Public and Institutions

    Lumbini Bikas Bank Limited Opens 11% Debenture 2089 Issuance to General Public and Institutions


    Lumbini Bikas Bank Limited (LBBL) has commenced the issuance of “11% LBBL Debenture 2089” to the general public and institutions. The debenture, which has a maturity period of 10 years and offers a coupon rate of 11%, will be available for application starting from today until the 19th of Jestha, 2080. In the event that the issue is not fully subscribed, the deadline may be extended until Jestha 30, 2080.

    A total of 10,00,000 units of the debenture will be issued at a par value of Rs. 1000 per unit. Among the total units, 60% (6,00,000 units) will be subscribed through private placement, while the remaining 4,00,000 units worth Rs. 40 crores will be open for public issue. Additionally, 5% of the public issue is allocated for mutual funds. The issuance aims to raise a total of Rs. 1 Arba.

    Nabil Investment Banking Limited has been appointed as the issue manager for this process. Investors have the opportunity to apply for a minimum of 25 units and a maximum of 1,00,000 units.

  • Kumari Bank Limited Initiates Auction of Promoter Shares to General Public

    Kumari Bank Limited Initiates Auction of Promoter Shares to General Public


    The promoters of Kumari Bank Limited (KBL) have decided to sell 7,57,699 units of their shares through an auction. This auction is open to individual investors, companies, and institutions, and will take place from 16th Jestha to 22nd Jestha, 2080.

    Interested bidders can participate in the auction with a minimum bid rate of Rs. 121 per share. The minimum bid quantity for the promoter shares is set at 1000 units. Bidders can place bids for the entire share issue, but they must adhere to the Nepal Rastra Bank’s guidelines regarding the maximum quantity of shares that can be held by a single entity.

    NIBL Ace Capital Limited has been appointed as the auction manager for this process. Bids will be opened at the auction manager’s premises on 23rd Jestha, 2080.

    At present, the Last Traded Price (LTP) of KBL shares stands at Rs. 168.

  • Kumari Bank Limited Promoters to Auction 14,83,378 Units of Shares to General Public

    Kumari Bank Limited Promoters to Auction 14,83,378 Units of Shares to General Public


    Kumari Bank Limited (KBL) has announced that its existing promoters will be selling 14,83,378 units of their shares through an auction open to the general public. The auction period will be from 12th Jestha to 19th Jestha, 2080. This presents an opportunity for individual investors, companies, and institutions to participate in the auction and potentially acquire shares of KBL.

    To participate in the auction, interested bidders need to place their bids with a minimum bid rate of Rs. 110. It’s important to note that the minimum bid quantity for the promoters’ shares is set at 1000 units. While bidders have the option to bid for the entire issue, they must comply with the regulations of the Nepal Rastra Bank, which specify the maximum quantity of shares that can be allocated to a single entity.

    The auction process will be managed by Sunrise Capital Limited, a renowned institution in the field. At the time of writing, the Last Traded Price (LTP) of KBL stands at Rs. 169.20. This information provides potential investors with a reference point to consider while placing their bids.

    Participating in this auction allows interested investors to potentially become shareholders of Kumari Bank Limited and be part of its future growth and profitability. It is advisable for prospective bidders to carefully assess their investment strategy and make informed decisions based on their own financial goals and risk appetite.

  • Unique Nepal Laghubitta Bittiya Sanstha Announces FPO for Public Shareholders

    Unique Nepal Laghubitta Bittiya Sanstha Announces FPO for Public Shareholders


    Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) is opening its Further Public Offering (FPO) of 3,79,425 unit shares to the general public. The FPO aims to adjust the shareholding ratio and meet regulatory requirements. The company plans to raise Rs. 3.79 crore through this issuance. Muktinath Capital Limited is the appointed issue manager for the FPO. UNLB’s issuer rating has been revised to CARE-NP B+ (Is) by CARE Ratings Nepal Limited.

  • Gold Price Surges by Rs. 600 in Domestic Market, Silver Declines by Rs. 5 per Tola

    Gold Price Surges by Rs. 600 in Domestic Market, Silver Declines by Rs. 5 per Tola


    Gold prices in the domestic market have experienced a significant surge today, increasing by Rs. 600. Fine gold is currently being traded at Rs. 109,800 per tola, marking an increase from yesterday’s rate of Rs. 109,200 per tola. Similarly, Tejabi gold is being traded at Rs. 109,300 today, compared to yesterday’s rate of Rs. 108,700 per tola.

    In contrast, silver prices have witnessed a decline of Rs. 5 per tola. The current trading rate for silver stands at Rs. 1,360 per tola, whereas it was valued at Rs. 1,365 per tola yesterday.

    Internationally, the price of gold has reached USD $1,977.00 per ounce, while silver is being traded at $23.41 per ounce.

    These fluctuations in gold and silver prices reflect the dynamics of the precious metals market, influenced by factors such as global demand, economic conditions, and investor sentiment.

  • Kumari Bank Limited Initiates Auction of Promoter Shares to General Public

    Kumari Bank Limited Initiates Auction of Promoter Shares to General Public


    Kumari Bank Limited (KBL) is conducting an auction for the sale of 316,140 units of promoter shares to the general public. The auction, which began on 8th Jestha and will continue until 10th Ashad, 2080, allows individual investors, companies, and institutions to participate. The minimum bid rate for the auction is set at Rs. 110, and the minimum bid quantity for promoter shares is 1000 units.

    While bidders have the option to bid for the entire quantity of shares, they must comply with the Nepal Rastra Bank’s regulations, which limit the maximum number of shares that can be held by a single entity. The auction is managed by B.O.K Capital Markets Limited, and the latest trading price (LTP) for KBL stands at Rs. 165.50 as of the time of writing.