Kathmandu, December 28
More than two dozen companies from different sectors are going to issue initial public offering (IPO) worth Rs 7.5 billion. Twenty-eight companies have applied to the Nepal Securities Board (NSB) for the issuance of 67.24 million IPOs worth a total of Rs 7.39 billion. Of these, 18 are hydropower, two are insurance, six are microfinance and two are other companies, the board said.
The process of issue of shares of companies will start only after getting the approval from the board. However, approval has not been given for the issue of shares as the chairman of the board has been vacant for four months. The board chairman Bhishma Dhungana was fired by the government in the second week of September after it was revealed that he had traded shares of the best cement.
Among the companies that have applied for share issue are Sayapatri Hydropower, Molung
Hydropower, Reliable Life Insurance, Three Star Hydropower, Rapti Hydro & General
Construction, CYC Microfinance Financial Institution, Adarsh Microfinance Financial Institution, Swetganga Hydro, Super Hydro, Mandakini Hydro and Eastern Hydropower is undergoing a preliminary review, the board said.
Similarly, the board has informed that a response has been sent to Dish Media Network, IME Life Insurance, Upkar Microfinance Financial Institution, River Falls Power Company after preliminary review.
Bindhabasini Hydropower, Himalayan Hydropower Company, Balefi Hydropower, Green
Ventures Ltd., Nasdo Prosperous Microfinance Financial Institution, Dordi Khola Hydropower
Company, Upper Solu Hydroelectric Company, Upper Hewa Khola Company, Jalpa Community Microfinance Financial Institution, National Financial Institution of Nepal. The board has stated that it is in the final stage of approval.
According to the board, Reliance Life Insurance has sought approval for the issuance of 6
million IPOs worth Rs 1.27 billion. Civil Capital Market is the sales manager of the company
which has proposed to issue an IPO at Rs 212 per share by adding a premium of Rs 112 to the share price.
Lately, the general public has been attracted to invest in shares and there has been a high
demand for ordinary shares. Similarly, due to the development of technology, applications can be made even from home.
By Karuna Thapa
