Five New Broker Companies Set to Enrich Nepal's Secondary Market

Nepal Stock Exchange (NEPSE) is poised to welcome five new broker companies, enhancing the vibrancy of the country's secondary market. According to NEPSE, one of the entrants boasts a substantial paid-up capital of Rs 60 crore, while the others are entering as limited brokers.

1. Himalayan Securities Limited: A subsidiary of Himalayan Bank, Himalayan Securities is preparing to enter the market with an impressive paid-up capital of Rs 60 crore. The application process for NEPSE membership is already in progress.

2. Rastriya Banijya Bank's Subsidiary: A subsidiary of Rastriya Banijya Bank is set to join the market as a committee, having submitted an application to NEPSE. The membership process is underway.

3. Magnet Security and Investment Company: Magnet Security and Investment Company is the third entrant, applying for limited work in the secondary market.

4. Prabhu Stock Market: A subsidiary of Prabhu Bank, Prabhu Stock Market, has obtained permission from the Securities Board. Although they haven't submitted an application to NEPSE yet, preparations are underway to file one soon.

5. Sunrise Securities: Sunrise Securities, a subsidiary of Sunrise Bank, has received permission from the Securities Board but has not yet submitted an application to NEPSE.

While three of the companies are expected to join the market immediately, the remaining two will follow suit after some time. NEPSE had recently granted business membership to 34 new companies, and with the addition of these five, the total count of new companies entering the market rises to 39.

During the recent license application period, 46 companies applied, with NIC Asia Broker being an exception. Out of the remaining 45, 39 have already secured licenses from the Securities Board, and the remaining six are in the process of obtaining their licenses, as confirmed by the Securities Board.