Tag: units

  • Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited

    Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited


    Prabhu Insurance Limited has initiated an auction for 19,79,424 units of promoter shares belonging to Nepal Reinsurance Company Limited (NRIC). The auction period is set to run from the 19th to the 26th of Mangsir, 2080.

    During this auction, the specified 19,79,424 units of promoter shares of Nepal Reinsurance Company Limited will be available for bidding. Interested promoter shareholders or institutions are invited to participate, with a minimum bid rate of Rs. 280. The bidding parameters for promoters’ shares include a minimum bid quantity of 10,00,000 units and a maximum bid quantity of 19,79,424 units.

    Prabhu Capital Limited is overseeing the auction process as the auction manager. At the time of this report, Nepal Reinsurance Company Limited (NRIC) has a Last Traded Price (LTP) of Rs. 610.

  • IPO Allotment Details for Muktinath Krishi Company Limited: Oversubscribed Offering and Issuer Rating

    IPO Allotment Details for Muktinath Krishi Company Limited: Oversubscribed Offering and Issuer Rating


    The IPO allotment for Muktinath Krishi Company Limited is scheduled for this Tuesday, on the 19th of Mangsir, 2080. The allotment event will be conducted at the premises of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

    Out of the total 14 lakh units offered, 10% (1,40,000 units) has already been assigned to Nepalese citizens working abroad. Additionally, 3% (42,000 units) was reserved for the company’s employees, and 5% of the total offered shares (70,000 units) were allocated to mutual funds. The remaining 11,48,000 units were made available to the general public at a par value of Rs. 100.

    According to the Central Depository and Clearing Company (CDSC), a substantial 10,57,828 applicants applied for a total of 1,15,23,150 units, equivalent to Rs. 1.15 Arba, by the closing day. This indicates an oversubscription rate of 10.03 times the offering.

    Analyzing the data, it becomes evident that only 1,14,800 fortunate applicants will be granted ownership of the company. ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). This rating suggests that issuers with this designation are deemed to carry a moderate risk of default in terms of fulfilling their financial obligations in a timely manner.

  • Kumari Bank Initiates Auction of 91,638 Promoter Shares for Existing Shareholders

    Kumari Bank Initiates Auction of 91,638 Promoter Shares for Existing Shareholders


    The current promoter of Kumari Bank Limited (KBL) has initiated the auction of 91,638 units of shares, inviting interest from existing promoter shareholders starting today. Lila Bahadur Gurung aims to sell this block of promoter shares to fellow existing promoters, and interested parties are encouraged to participate in the auction within the next 35 days from the publication date of this notice, ending on the 10th of Mangsir.

    Potential bidders are required to submit their bids either at the central office of the bank situated in Tangal, Kathmandu, or at Kumari Capital Limited located in Naxal, Nagpokhari, Kathmandu. In the event that no bids are received from the existing founder shareholders within the specified timeframe, the shares will subsequently be opened for auction to the general public.

    As of the latest available data, Kumari Bank Limited (KBL) concluded trading at a price of Rs. 153.90 on the previous day. Additionally, the Last Traded Price (LTP) for Kumari Bank Limited Promoter Share (KBLPO) stood at Rs. 110.00 as of November 9, 2023.

  • Unnati Sahakarya Laghubitta FPO Allotment Concluded, Oversubscribed by Over 65 Times

    Unnati Sahakarya Laghubitta FPO Allotment Concluded, Oversubscribed by Over 65 Times


    The FPO allotment process of Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) was successfully concluded today at the offices of the issue manager, Siddhartha Capital Limited, in Kathmandu.

    During the FPO issuance from 21st to 24th Kartik, 2080, Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) had released 1,78,451.18 units of FPO shares at a par value of Rs 100 to the general public. As per the regulations outlined in the Banks and Financial Institutions Act (BAFIA), 2073, and guidelines from the NRB, a minimum of 30% of the issued capital must be retained by public shareholders. To meet this requirement, the company made available 1,78,451.18 units of FPO shares to the general public, altering the existing promoter: public share structure from 75.45:24.55 to a new ratio of 70:30. The company’s current paid-up capital is Rs. 22.9 Crores.

    The FPO garnered significant interest, receiving applications from 10,72,443 valid applicants who collectively applied for 1,17,20,860 units. The oversubscription reached an impressive rate of more than 65.68 times. In the allotment process, 17,845 applicants were fortunate to receive 10 units each through a lottery system, while one lucky applicant received an extra unit. Unfortunately, the remaining 10,54,598 applicants did not receive any allotment. A total of 325 applicants, who had applied for 3,580 units, were disqualified.

    For accessing the IPO result, interested parties can refer to CDSC IPO Result, MeroShare, and Siddhartha Capital Limited. However, it’s noteworthy that ICRA Nepal has downgraded the issuer rating of Unnati Sahakarya Laghubitta Bittiya Sanstha Limited from [ICRANP-IR] BB- to [ICRANP-IR] B+@, placing the rating on watch with negative implications. This rating implies a high risk of default concerning the timely servicing of financial obligations for issuers with this rating.

  • Vision Lumbini Urja IPO Allotment: High Demand with Oversubscription of 6.54 Times

    Vision Lumbini Urja IPO Allotment: High Demand with Oversubscription of 6.54 Times


    The Vision Lumbini Urja Company Limited’s Initial Public Offering (IPO) allotment is scheduled for the upcoming Tuesday, the 5th of Mangsir, 2080. The allotment ceremony will take place at the premises of the issue manager, Muktinath Capital Limited, located in Kathmandu.

    Out of the total 2,400,410 units available, a portion has already been designated for specific groups. Specifically, 191,250 units have been allotted to Nepalese citizens working abroad, 95,625 units are earmarked for mutual funds, and 38,250 units are set aside for the company’s employees. The remaining 2,075,285 units are open for subscription by the general public at a par value of Rs. 100.

    As reported by the Central Depository and Clearing Company (CDSC), a substantial response was received, with 1,194,820 applicants applying for a total of 135,761,60 units, amounting to Rs. 1.35 Arba as of the closing day. This indicates an oversubscription of 6.54 times the available units. Consequently, only 207,528 fortunate applicants will be successful in acquiring ownership stakes in the company.

    In terms of credit ratings, ICRA Nepal has reaffirmed Vision Lumbini Urja Company Limited’s long-term rating at [ICRANP] LBB- (pronounced ICRA NP L double B minus) for its long-term loan limits. Additionally, the short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) has been reaffirmed for its short-term loan limits.

  • Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today

    Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today


    Nepal Warehousing Company is set to conclude the issuance of its Initial Public Offering (IPO) for Foreign Nepalese Immigrants today, marking the 24th of Kartik as the closing day. The IPO, which opened on the 10th of Kartik, 2080, has a total issued capital of Rs. 68.75 Crores. Of this, 20%, equivalent to 13,75,000 unit shares worth Rs. 13.75 Crores, will be allocated for the general public. Within this public issue, 10% of the shares, totaling 1,37,500 units, have been earmarked for Nepalese citizens working abroad, and the subscription for this segment will close today.

    Out of the 13,75,000 units, 68,750 units (5% of the total) are reserved for mutual funds, and 27,500 units (2% of the total) are designated for the company’s employees. The remaining 11,41,250 units are available for the general public. Himalayan Capital is appointed as the issue manager for the IPO, with a minimum application quantity of 10 units and a maximum of 50,000 units.

    As per the Central Depository and Clearing Company (CDSC), substantial interest has been seen in the IPO, with 32,605 applicants applying for a total of 7,86,220 units. Consequently, the issue has already been oversubscribed by 5.71 times as of 10 AM today.

    ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- to Nepal Warehousing Company Limited. This rating suggests a moderate risk of default regarding the timely servicing of financial obligations for the company.

    Established under the Company Act, 2063 of Nepal, Nepal Warehousing Company aims to address the warehousing needs of farmers, traders, millers, and businessmen involved in grain trade for commercial and industrial purposes. The company seeks to combat post-harvest losses, maintain product quality, and address the challenge of preserving grains in a conducive environment. To achieve this, the company has installed high-quality silos with a capacity of 55,000 MT at three different locations in provinces 1, 2, and Lumbini province.

  • Kumari Bank Limited Initiates Auction of 5,30,000 Promoter Shares at Minimum Rate of Rs. 101

    Kumari Bank Limited Initiates Auction of 5,30,000 Promoter Shares at Minimum Rate of Rs. 101


    The existing promoter shareholder of Kumari Bank Limited (KBL) has initiated the auction of 5,30,000 units of promoter shares, starting from the 20th of Kartik, 2080.

    In this auction, a total of 5,30,000 promoter shares of KBL were made available for bidding at a minimum rate of Rs. 101. The opportunity to bid is extended to both the general public and institutions, with a deadline set for the 20th of Kartik. Interested shareholders are required to submit their bids at Kumari Capital Limited, situated at Naxal, Nagpokhari, Kathmandu.

    As of the latest information available, KBL is trading with an LTP (Last Traded Price) of Rs. 151.70. It’s worth noting that the LTP for KBLPO, the promoter shares, was recorded at Rs. 101 as of the 18th of October, 2023.

  • Chirkhwa Hydro Power Limited Successfully Allots IPO Shares to Strong Demand, Achieving Oversubscription

    Chirkhwa Hydro Power Limited Successfully Allots IPO Shares to Strong Demand, Achieving Oversubscription


    The IPO allotment of Chirkhwa Hydro Power Limited has been successfully concluded at the offices of the issue manager, RBB Merchant Banking Limited in Kathmandu.

    Chirkhwa Hydro Power Limited had initially issued 8,59,300 unit IPO shares at a par value of Rs 100 for the general public from the 23rd to the 26th of Ashwin, 2080. Previously, the company had allocated 4,00,000 unit shares, equivalent to 10% of the issued capital, to project-affected locals in the Bhojpur District. However, only 2,04,700 units were allotted to valid applicants, leaving 1,95,300 unsubscribed units. These unsubscribed shares have now been combined with the 8,00,000 units (20% of the issued capital reserved for the general public), resulting in a total of 9,95,300 units available for the general public.

    Out of the 9,95,300 units, 80,000 units were already issued and allotted to Nepalese citizens working abroad, 40,000 units were designated for mutual funds, and 16,000 units were set aside for company employees. The remaining 8,59,300 units were open for the general public.

    The IPO received a remarkable response, with 11,31,936 valid applicants applying for a total of 1,21,36,760 units, oversubscribing the offering by more than 14.12 times. The allotment process involved 85,930 applicants being allocated 10 units each through a lottery system, while the remaining 10,46,006 applicants were not allotted any shares. Additionally, 40,000 units were allotted to mutual funds, and 16,000 units were designated for company employees.

    Notably, a total of 2,381 applicants who had applied for 32,700 units were disqualified. The IPO results are available through various channels, including CDSC IPO Result, MeroShare, and RBB Merchant Banking Limited.

    Chirkhwa Hydropower Limited, established in January 2009, is actively engaged in the development of a 4.7 MW Upper Chirkhwa Khola Hydropower Project in the Bhojpur district, Province-1 of Nepal. This project is categorized as a run-of-the-river (R-o-R) type and is being developed at a 40% probability of exceedance. The project’s budgeted cost is NPR 910 million, with funding in a 60:40 debt-equity ratio. The debt component of NPR 545 million is secured with Rastriya Banijya Bank Limited. The project has achieved approximately 90-95% progress as of mid-January 2023. Furthermore, ICRA Nepal has reaffirmed Chirkhwa Hydropower Limited’s issuer rating at [ICRANP-IR] BB-, signifying a moderate risk of default regarding the timely servicing of financial obligations.

  • Lumbini Bikas Bank Promoter Initiates Auction for 37,319 Shares to Existing Shareholders

    Lumbini Bikas Bank Promoter Initiates Auction for 37,319 Shares to Existing Shareholders


    The current promoter of Lumbini Bikas Bank Limited (LBBL) is initiating an auction for 37,319 units of shares to be exclusively offered to existing promoter shareholders, starting from today. Manlaxmi Thapa, a promoter of LBBL, is overseeing the sale of these 37,319 units of promoter shares to fellow existing promoter shareholders. Interested individuals are invited to participate in this auction, and they have a 35-day window from the date of this notice’s publication, which falls on the 15th of Kartik.

    Potential investors who wish to take part in this auction should submit their bids at the bank’s central office, located in Dillibazar, Kathmandu. In the event that no bids are received from the current founder shareholders within the specified timeframe, these shares will subsequently become available for auction to the general public.

    As of the most recent trading day, LBBL had closed at a share price of Rs. 372.70. Conversely, the last traded price (LTP) for LBBL Promoter Share Auction (LBBLPO) was reported at Rs. 182.00 as of the 4th of June, 2023. This LTP represents the price at which these shares were most recently traded before the initiation of this auction.

  • Chirkhwa Hydro Power IPO Allotment Sees Overwhelming Demand, 11.14 Times Oversubscribed

    Chirkhwa Hydro Power IPO Allotment Sees Overwhelming Demand, 11.14 Times Oversubscribed


    The initial public offering (IPO) allotment for Chirkhwa Hydro Power Limited is scheduled for this Thursday, falling on the 16th of Kartik, 2080, in accordance with the Nepali calendar. The allotment event will take place at the premises of the issue manager, RBB Merchant Banking Limited, located in Kathmandu, commencing at 1 PM.

    Out of the total offering of 9,95,300 units, 80,000 units have already been assigned to Nepalese citizens working abroad, 40,000 units were specifically reserved for mutual funds, and an additional 16,000 units were set aside for the company’s employees. The remaining 8,59,300 units were made available to the general public at a par value of Rs. 100.

    Data from the Central Depository System and Clearing Limited (CDSC) reveals that 873,180 applicants submitted applications for a combined total of 95,68,430 units, equivalent to a value of Rs. 95.69 Crores, as of the closing day. Consequently, the IPO has been oversubscribed by a remarkable 11.14 times.

    Analyzing the data, it is evident that only 85,930 fortunate applicants will secure ownership of the company.

    ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B minus) for Chirkhwa Hydropower Limited. Companies with this rating are assessed to carry a moderate risk of default when it comes to meeting their financial obligations promptly.

  • Mirmire Laghubitta FPO Allotment Set for Thursday with Overwhelming Demand

    Mirmire Laghubitta FPO Allotment Set for Thursday with Overwhelming Demand


    The FPO (Follow-on Public Offering) allotment for Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) is scheduled for this Thursday, which falls on the 16th of Kartik, 2080, as per the Nepali calendar. The allocation event will take place at the premises of Nepal SBI Merchant Banking Limited in Hattisar, Kathmandu, beginning at 8:30 AM.

    As of the present, the company’s paid-up capital amounts to Rs. 65.33 crores. Within this, 71% of the shares, equivalent to 4,639,019 units, are held by the promoter shareholders, while the remaining 29%, totaling 1,894,810 units, are in the hands of public shareholders. According to the regulations of the Banks and Financial Institutions Act of 2073 and the Nepal Rastra Bank (NRB), a minimum of 30% of the issued capital must be retained by public shareholders. Consequently, the company issued 1,23,816.45 units of FPO shares to the general public. This issuance will bring about a shift in the promoter-public share structure from the existing 71:29 ratio to a 70:30 ratio.

    Based on data from the Central Depository System and Clearing Limited (CDSC), the FPO received approximately 12,12,109 applications, amounting to a total of 1,38,83,730 units of shares applied for until the closing day. Consequently, the FPO was oversubscribed by a staggering 112.13 times in terms of the number of units applied for by ordinary applicants.

    Examining the data, it becomes evident that only 12,381 fortunate applicants will secure ownership of the company.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of CARE-NP BB- (Is) to Mirmire Laghubitta Bittiya Sanstha Limited. Companies with this rating are deemed to present a moderate risk of default in terms of meeting their financial obligations in Nepal.

  • Mathillo Mailun Khola Jalvidhyut IPO Allotment Concluded; 128,420 out of 11,85,642 Valid Applicants Get 10 Units Each

    Mathillo Mailun Khola Jalvidhyut IPO Allotment Concluded; 128,420 out of 11,85,642 Valid Applicants Get 10 Units Each


    The IPO allotment process for Mathillo Mailun Khola Jalvidhyut Limited has been successfully completed at the offices of the issue manager, Sanima Capital Limited in Kathmandu. The company had previously offered 12,84,200 unit IPO shares at a par value of Rs. 100 to the general public during the period from the 18th to the 22nd of Ashwin in the year 2080.

    Prior to this, the company had issued 10,00,000 unit shares to project-affected individuals from Rasuwa and Nuwakot Districts, of which only 990,800 units were allocated to eligible applicants. Consequently, the remaining 9,200 units of unsubscribed shares from project-affected locals were combined with the 15,00,000 units designated for the general public.

    Out of the total 15,09,200 units offered to the public, 1,50,000 units were already issued and assigned to Nepalese citizens working abroad, and 75,000 units were allocated for mutual funds. The remaining 12,84,200 units were earmarked for the general public.

    The IPO offering received an overwhelming response with applications from 11,85,642 valid applicants who collectively applied for a total of 1,28,66,060 units. This level of interest resulted in an oversubscription rate of over 10.01 times. In accordance with the allotment module, 128,420 applicants were selected via lottery and allotted 10 units each, while the remaining 10,57,222 applicants did not receive any shares.

    Furthermore, 75,000 units were allotted to mutual funds, and 4,654 applicants who had applied for 65,220 units were disqualified from receiving any shares.

    The IPO results are accessible through CDSC IPO Result, MeroShare, and Sanima Capital Limited. Additionally, CARE Ratings Nepal Limited (CRNL) has assigned a ‘CARE-NP BB-‘ rating to Mathillo Mailun Khola Jalvidhyut Limited, indicating a moderate risk of default concerning the timely servicing of financial obligations in Nepal.

    Mathillo Mailun Khola Jalvidhyut Limited is a public limited company, established on August 14, 2012. It is promoted by institutional investors, predominantly associated with the Sanima Hydro group, as well as other institutions such as banks and insurance companies. The company’s primary purpose is to establish a 14.3 MW run-of-river Mathillo Mailun Khola Jalvidhyut Project in the BOOT (Build, Own, Operate and Transfer) mechanism, situated in the Rasuwa district of Nepal.