“IME Life Insurance (ILI) IPO Shares to Be Listed on Nepal Stock Exchange (NEPSE). The agreement for listing 4 crore unit shares with a face value of Rs. 100 each has been finalized today. Civil Capital Market Limited will be the issue and sales manager for the IPO issuance.”
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.
Sun Nepal Life Insurance Company Limited has commenced the issuance of 9,60,000 unit IPO shares exclusively for Nepalese citizens working abroad, starting from today, 1st Shrawan. The IPO issue will remain open until the 15th Shrawan, 2080.
The total issued capital of the life insurance company amounts to Rs. 3.2 Arba, of which 30% or 96,00,000 unit shares will be made available to the public, including Nepalese citizens working abroad and the general public. Among the total shares being issued, 10% or 960,000 units have been allocated specifically for Nepalese citizens working abroad. The remaining 86,40,000 units will be issued later to the general public, encompassing employees of the company and mutual funds.
The IPO shares will be offered at a price of Rs. 239 per share, which includes a premium price of Rs. 139 in addition to the face value of Rs. 100.
Nepal SBI Merchant Banking has been appointed as the issue manager for the IPO, which aims to raise a total of Rs. 2.22 Arba for Sun Nepal Life Insurance Company Limited. Out of this amount, Rs. 1.26 Arba will be allocated as the premium amount, while the remaining portion will contribute to the company’s paid-up capital.
Established on August 2, 2017, Sun Nepal Life Insurance Company Limited is a licensed life insurance company authorized by the Insurance Board. The company offers a diverse range of products, including Money Back, Endowment, Whole Life, and Term Assurance products, through its extensive sales network. As of mid-December 2019, the company boasted a branch network of 21 (including the head office), 56 sub-branches, and 15,838 insurance agents.
In addition, CRNL (Credit Rating Nepal Limited) has assigned a grading of ‘CARE-NP IPO Grade 4’ to the proposed IPO of Sun Nepal Life Insurance Company Limited, indicating below-average fundamentals. The company intends to issue 60 lakh shares with a target of raising Rs. 60 crores through the IPO.
The IPO allotment of Ghorahi Cement Industry Limited took place at the premises of Nabil Investment Banking Limited in Naxal, Kathmandu. The company had initially issued 69,11,670 units of IPO shares at a price of Rs. 435 per unit (including a premium of Rs. 335) to the general public on Jestha 32, 2079.
However, the IPO faced a temporary setback when the issue was paused due to investors applying for shares without having sufficient funds. After conducting a thorough investigation, the company took transparent and corrective measures. As a result, Ghorahi Cement Industry Limited has decided to re-issue the 69,11,670 units of IPO shares to the general public from the 22nd to the 25th of Ashad, 2080.
The company has a total issued capital of Rs. 3.97 Arba, out of which 20% (79,43,801 unit shares) was set aside for the public, including locals, Nepalese citizens working abroad, and the general public. Additionally, 1% (397,190 unit shares) were issued to project-affected locals of Dang District, and 7,54,661 unit shares were issued to Nepalese citizens working abroad starting from 18th Baisakh.
Out of the shares issued to project-affected locals, only 77,290 shares were allotted to valid applicants. The public issue for Nepalese migrant workers was undersubscribed by 19.65% or 148,311 units. Consequently, the unsubscribed shares were added to the shares reserved for the general public.
According to the offer letter, out of the total issued capital, 79,43,801 unit shares (20%) were allotted to the project-affected locals, 606,350 units were allotted to Nepalese citizens working abroad, 328,961 units were set aside for mutual funds, and 19,530 units were reserved for the company’s employees. The remaining shares, after all previous allotments and reservations, amount to a total of 69,11,670 units and are available for the general public.
The IPO received applications from 5,57,701 valid applicants, who applied for a total of 77,93,710 units, resulting in oversubscription by more than 1.12 times.
In summary, Ghorahi Cement Industry Limited concluded its IPO allotment and has decided to reissue the shares to the general public. The company faced initial challenges due to insufficient funds from investors but has taken corrective measures. The IPO received significant interest from valid applicants, oversubscribing the issue.
Ghorahi Cement Industry Limited will be reissuing its IPO shares to the general public. This decision was made after a temporary setback during the initial offering, where some investors applied for shares without having enough funds. The company has conducted a thorough investigation into the matter and has taken transparent and corrective actions. The reissuance of shares aims to provide a fair and transparent opportunity for interested investors to participate in the IPO. The reissuance period will be from the 22nd to the 24th of Ashad, 2080.
The Securities Board of Nepal (SEBON) has given its approval for the “Himalayan 80-20” mutual fund scheme, which is valued at Rs 1 Arba. This closed-end scheme will offer 10 crore unit shares with a par value of Rs 10 per share. The scheme is sponsored by Himalayan Bank Limited (HBL) and managed by Himalayan Capital Limited. It is noteworthy that this is the first mutual fund scheme to be operated by Himalayan Capital.
The IPO allotment of Nepal Republic Media Limited has been completed today at Hotel Aloft in Chhaya Center, Thamel, Kathmandu. Nepal Republic Media Limited had issued 35,25,930 units worth Rs 35.25 crores as an IPO for the general public from Jestha 26-30, 2080.
Nepal Republic Media Limited is conducting its IPO allotment on Monday, 11th Ashad, 2080. The allotment program will be held at Mega Capital Markets Limited in Kamaladi, Kathmandu, at 4 pm.
The company has issued a total capital of Rs. 96.75 crores. Out of this, 43,53,000 unit shares worth Rs. 43.53 crores were reserved for the general public, which accounts for 44.99% of the issued capital. Among the shares allocated to the public, 10% (4,35,300 units) were offered to Nepalese citizens working abroad, 4% (174,120 units) were set aside for the company’s employees, and 5% (217,650 units) were allocated to mutual funds. The remaining 35,25,930 units were made available to the general public.
The IPO allotment process of Rawa Energy Development Limited, a hydropower company, has been completed at the premises of Prabhu Capital Limited in Kathmandu. The company issued 6,43,667 units worth Rs. 6.43 crores as an Initial Public Offering (IPO) to the general public between Jestha 18 and 22, 2080.
Prior to the IPO, 2,80,000 units worth Rs. 2.8 crores were allocated to project-affected locals of Khotang District. However, only 31.2% of the applicants were allotted shares, leaving 192,330 unsubscribed units. These shares were combined with 560,000 units (20% of the issued capital reserved for the general public), resulting in a total of 752,330 units available for the general public.
Among the 752,330 units, 56,000 units were issued to Nepalese citizens working abroad, 37,616 units were reserved for mutual funds, and 15,047 units were allocated to company employees. The remaining 643,667 units were offered to the general public.
The IPO received an overwhelming response, with 10,77,740 valid applicants applying for a total of 11,564,590 units, resulting in an oversubscription rate of over 17.96 times. Through a lottery system, 64,366 applicants were allotted 10 units each, while seven lucky applicants received an additional unit. Unfortunately, the remaining 10,13,374 applicants were not allotted any shares.
Additionally, 37,616 units were allotted to mutual funds, and 15,047 units were allocated to company employees. However, 1,07,466 applicants, who had applied for 14,21,800 units, were disqualified by CASBA members due to reasons such as duplicate applications for the local issue and foreign employment.
CARE Ratings Nepal Limited (CRNL) has assigned Rawa Energy Development Limited an issuer rating of ‘CARE-NP BB (Is)’, indicating 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, and later converted to a public limited company on June 28, 2019, is promoted by experienced individuals in the hydropower and other sectors. They have successfully operated the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District since September 20, 2020. The project was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.
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 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.
Rawa Energy Development Limited has announced the closure of its Initial Public Offering (IPO) for the issuance of 643,667 unit shares with a face value of Rs. 100 per share. The IPO was opened on 18th Jestha, 2080 and will conclude on 22nd Jestha, 2080.
Previously, the company had allocated 2,80,000 unit shares worth Rs. 2.8 crores to the project-affected locals of Khotang District. However, only 87,370 units were allotted to valid applicants, leaving 192,330 units unsubscribed. These unsubscribed 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 been issued and allotted to Nepalese citizens working abroad, 37,616 units have been set aside for mutual funds, and 15,047 units have been reserved for employees of the company. The remaining 643,667 units are available for 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 issuance, and interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.
As of yesterday evening, the issue has already received a significant oversubscription. According to CDSC, a total of 869,645 applicants have applied for 95,86,400 units, indicating an oversubscription of 14.89 times.
CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating signifies a moderate risk of default in the timely servicing of financial obligations in Nepal.
Rawa Energy Development Ltd, incorporated on August 16, 2009, as a private limited company and later converted to a public limited company on June 28, 2019, is promoted by individuals with extensive experience in the hydropower and other sectors. The company operates 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.