Himal Press 
KATHMANDU: More than 100 companies are waiting for regulatory approval to raise Rs 69.30 billion from the market.
According to the Securities Board of Nepal (Sebon), 104 companies have applied to launch initial public offerings (IPOs) to float a total of 472.89 million units of shares to the public.
The largest share of the proposed fundraising comes from the Manufacturing & Processing sector. Thirty companies from the sector have sought the regulator’s nod to raise Rs 35.35 million from the market by issuing 166.42 million units. Eight of these companies have proposed issuing shares at a premium price. Among them, Maruti Cements has set the highest IPO price at Rs 426 per share.
Similarly, 10 companies from the sector category are looking to raise more than Rs 1 billion each. Jagadamba Steels has sought permission to raise the largest amount, aiming to collect Rs 6.62 billion by issuing 20.07 million units. The company has priced its share at Rs 330 per unit.
The Hydropower sector accounts for the highest number of companies in the pipeline. According to Sebon, 34 hydropower companies are planning to issue a combined 171.48 million shares to raise Rs 17.50 billion. Among them, Siuri Nyadi Power Company is preparing the largest public offering to raise Rs 3.03 billion by issuing 30.26 million units of shares. The company is developing a 40.27 MW run-of-river hydropower project in Lamjung district.
The IPO approval process has come to a grinding halt as Sebon has been without a leader for nearly two months.
In the Hotels and Tourism sector, 18 companies, including two cable car operators and one airline company, are awaiting approval to issue 58.21 million shares worth Rs 6.45 billion. Shree Airlines is set to launch the sector’s largest IPO, aiming to raise Rs 1.26 billion through the sale of 6.3 million shares. The company has priced its shares at Rs 200 per unit.
Similarly, 14 companies in the “Others” category have applied to float 48.62 million units to raise Rs 5.90 billion from the market. Within this group, Dish Media Network is seeking to raise the largest amount, or Rs 1.97 billion, by issuing 19.7 million shares with a face value of Rs 100 each.
Five investment companies have sought permission to raise a combined Rs 3.41 billion from the market through the issuance of 21.4 million units. Shivam Holdings Ltd is the largest issuer in the category. The company is planning to raise Rs 2.43 billion by offering 11.6 million units of shares priced at Rs 210 per unit.
Likewise, three micro-insurance companies are awaiting Sebon’s approval to issue a combined 6.75 million units to raise Rs 675 million. Each of them is planning to raise Rs 225 million through the issuance of 2.25 million shares at a face value of Rs 100 per share.
Meanwhile, the IPO approval process has come to a grinding halt as Sebon has been without a leader for nearly two months now. The position of Sebon chair has been lying vacant since April 17, when Santosh Narayan Shrestha tendered his resignation.
