SEBON Introduces 6 Stage Classification for 117 Pending IPO Applications

The Securities Board of Nepal (SEBON) has systematically categorized initial public offering (IPO) applications into six distinct procedural stages to streamline the review process.

The updated regulatory pipeline features a total of 117 companies seeking to raise upwards of 71.42 billion rupees through the issuance of over 510 million shares.

The evaluation framework traacks files from initial submission through preliminary screening, comment issuance, replies, and response evaluations, culminating in final reviews.

While the pipeline spans multiple phases, companies are distributed across each tier with varying issue volumes. For instance, Stage 1 (Initial Application Received) accommodates 76 companies, featuring large volume aspirants like Maruti Cements and Shivam Holdings.

 Stage 2 (Under Preliminary Review) handles 6 entries, including Akama Hotel.

Stage 3 (Comment Sent) contains 4 firms such as Mahashakti Cement, while Stage 4 (Reply Received) oversees 19 applications, led by prominent entities like Jagdamba Steels and Dish Media Network. Furthermore, Stage 5 (Reply Under Review) accounts for 10 active files, including Sanima Hydropower.

At the final end of the spectrum, Stage 6 (Final Review) comprises two companies: Aashutosh Energy Limited and Kantipur Pharmaceuticals Lab Limited. Together, these final stage applicants are seeking to float a combined 2.9 million shares raising NPR 290 million.

Regulatory authorities emphasize that reaching the final review stage signifies advanced administrative evaluation, but formal clearance remains strictly contingent upon satisfying all financial disclosures, documentation benchmarks, and legal compliance criteria.