Ridi Hydropower Development Co. Ltd 35 % Right Shares & 10.526% cash dividend

Ridi  Hydropower Development Co. Ltd’s (RHPC) BOD meeting  held on Bhadra 27,2072 has decided to distribute 10.526% cash dividend to its shareholders. The same meeting has also decided to issue rights share after the dividend in the ratio of 10:3.5 which subject to the approval of its upcoming AGM going to be held on Kartik 13,2072.

RHPC has posted a net profit of Rs 1.95 crore in the fourth quarter of the last fiscal year.

It last trading price stand at Rs 438 as on September 13, 2015.-SSN

Upcoming Initial Public Offerings (IPOs)

Altogether 14 companies, including 4 hydropower have filed application at the Securities Board of Nepal (SEBON) seeking permission to issue their Initial Public Offering (IPO), which collectively stands at around Rs 3.05 arba.

The Hydroelectricity Investment and Development Company Limited, Khanikhola Hydropower Company Limited, Synergy Power Development Limited and Ngadi Groups Power Limited are the Hydropower companies which are going to issue IPO .

The Hydroelectricity Investment and Development Company Limited will be floating IPO worth Rs 2 arba. The issue manager for this issue will be Citizen Investment Trust. The company had applied for the IPO on Magh 22, 2071.

Similarly, Khanikhola Hydropower Company Limited is in the row to float the IPO worth Rs 4.65 crore to the local residents. Ngadi Groups Power limited and Synergy Power Development Limited , which will issue the IPO worth Rs 4.86 crore and Rs 7 crore respectively. Civil Capital Markets and NIBL Capital Markets are issue manager for the IPO respectively.

Another much-awaited IPO is that of Mero Microfinance Bittiya Sanstha Limited which is seeking to float the IPO worth Rs 6.12 crore. Global IME capital Limited will be managing its IPO.

Likewise, Samabridhi Bikas Bank is in the process to float the IPO worth Rs 3 crore and Growmore Merchant Banker will be managing its IPO. Nepal Industrial Development Corporation will be issuing worth Rs 18.41 crore.

Shikhar Insurance Company Limited will be issuing Further Public Offering (FPO) of 510,988 kittas at Rs 650 per kitta. -SSN

CEDB Hydro Fund Ltd to float 1:0.45 right shares from Ashoj 10

CEDB Hydro Fund Limited, a sister concern of Clean Energy Development Bank, has decided to float 1:0.45 right shares to the shareholders from Ashoj 10.

NEPSE Index down 37.61 points; Heavy downfall leads to circuit breaker

In what appeared to be an alarming situation in the secondary market, Nepal Stock Exchange (Nepse) benchmark index registered a single day loss of 37.61 points to close at 947.84 points on Monday.

Four hydropower IPO public stock worth over Rs 13 arba Coming Soon......

Four hydropower companies being built by Nepali investors are planning to issue the Initial Public Offerings (IPOs) worth Rs 13.32 arba in near future.

Four hydropower companies led by the Chilime group are in the process of floating their IPOs worth Rs 8.13 arba and another IPO of the Upper Tamakoshi project worth Rs 5.18 arba is in the pipeline.

Upper Tamakoshi, Sangen, Rasuwagadi and Mid-Bhotekoshi are planning to set aside the primary shares worth Rs 5.67 arba to the depositors of the Employees Provident Fund, and Rs 2.71 arba to the local affected people.

Chimile gives 295 % cash and 100 % bonus shares; expect higher dividends with 4 projects in pipeline

Chilime Hydropower Company Limited has distributed a mindblowing 295percent cash dividend and 100 percent bonus share to the shareholders from the net profit it made over the past decade.

The 17th Annual General Meeting of the hydropower developer held in the capital yesterday also decided to distribute 30 percent bonus share and 10 percent cash to the shareholders from the net profit it earned in the last fiscal year of 2069/70.

More hydro power companies to enter capital market

With the number of financial institutions going public waning, primary investors will see more hydropower companies entering stock market.

More hydropower firms are seeking to issue shares to public to raise capital, while the public is also taking into these shares for its lucrative returns and handsome dividends.

Ridi Hydropower prepares to issue IPO shares

The Nepali share market will soon see the entry of another hydropower company as Ridi Hydropower is offering shares to the locals in the run up to the Initial Public Offering (IPO) next week.

Ridi hydropower to issue IPO shares to locals on Oct 4

Ridi Hydropower Development Company Limited is issuing the Initial Public Offer of 3 lakh unit equity shares to the local residents affected by or in the vicinity of the 2.4 MW Ridi Khola Small Hydropower Project from October 4.

Sanima Mai Hydropower IPO issue closes today, expected to oversubscribed by 20 times

Sanima Mai Hydropower Limited (SMHL) closed its Initial Public Offering (IPO) today.

The IPO has been well received in the market, according to NIDC Capital Markets Limited, the issue manager.

Hydropower sector accounts for 95pc of investment pledges

Investors don’t seem to be deterred from putting money in hydropower projects despite limited access to financing and a long gestation period

According to government data, seven hydro projects were registered at the Department of Industry (DoI) in the first two months of the current fiscal year. More interestingly, the hydropower sector has attracted the highest investment compared to other sectors.

IPO shares issue of five hydropower companies soon

Five hydropower companies, including two registered with the Securities Board of Nepal (SEBON), are going to public shares shortly.
These companies are Sanima Hydropower, Ridi Hydropower Development Company, Barun Hydropower Company, Upper Tamakoshi Hydropower and Arun Valley Hydropower Company.

Many US companies interested in Nepal's hydro sector

Embassy of the United States in Kathmandu has stated that many American companies have expressed interest to invest in Nepal´s hydropower sector.

Chilime & Butwal Power post profits 96.37 cr & 28.64 cr resp.

Fiscal year 2069/70 has proven to be a grim year for two leading power companies.

Chilime Hydropower Company has posted a profit of Rs 96.37 crore for FY 2069/70, a meager 1.95% rise over last year’s 94.53 crore.

Upper Tamakoshi hydro applies IPO Public share to Sebon worth Rs 5.18b

Having completed almost 50 percent of the construction work, the Upper Tamakoshi Hydropower Project Limited (UTHPL) is now gearing up for an initial public offering (IPO). Worth Rs 5.18 billion, the IPO will be the country’s largest so far.
The UTHPL last week formally applied to the Securities Board of Nepal (Sebon) for the IPO and has appointed Citizen Investment Trust (CIT) as the issue manager. UTHPL acting chief Bigyan Shrestha confirmed the development.

Nepse up 12.59 points

The Nepal Stock Exchange (Nepse) index gained 12.59 points this week as investors´ confidence improved in anticipation of cheaper loans after the recently introduced monetary policy reduced spread rate for banks.
In the monetary policy for fiscal year 2013/14, Nepal Rastra Bank (NRB) has reduced spread rate - the difference in interest rates on loan and deposit - to 5 percent from 7 percent.

30 MW Chameliya Hydropower Project -Korean contractor issues pullout warning

Korea Hydro and Nuclear Company, the contractor of electro-mechanical and hydro-mechanical works as well as the construction of transmission lines of the 30 MW Chameliya Hydropower Project, has warned the Nepal Electricity Authority that it would walk out on the contract unless it is compensated for delay in civil works.

Arun Valley’s profit Rs 5.74 crore, a 16.07 % growth from last year

Arun Valley Hydropower Development Company made a profit of Rs 5.74 crore in the FY 2069/70, a 16.07 % growth from last year. The hydel’s profits last year had stood at Rs 4.95 crore.

At Rs 7.17 crore, the hydropower company’s operating profit increased by a meager 2.93%.

NEPSE incline by 1.64 points to 547.61.

   The market index today also showcased the positive sentiment of the investors. But the capitalization of gain in the latter hours deterred the market day’s gain to some extent.

The publication of Nepal Credit and Commerce Bank (NCCB) financial report with an astounding growth figure of 108% in Net profit, tallying to Rs 370.8 million, paved the way for signalling effect among commercial banks’ scrips in the initial hour, boosting the Banking sector by 6 points.

Tunnel at Kulekhani III hydropower project completed

The Kulekhani III hydropower project has marked a major breakthrough with the completion of a tunnel to bring water to the powerhouse. The final section of the tunnel from Bhainse-Sannanitar was completed on Monday.
Sino Hydropower Company has been constructing the 14 MW Kulekhani III project. The digging ceremony for the last part of the tunnel was attended by representatives from the local administration, political parties, journalists and local people.