Nepal Republic Media Closing Issue of IPO Shares to Nepalese Citizens Working Abroad From Today

Nepal Republic Media Limited is closing the issue of 4,35,300 unit shares of Rs 100 face value from today i.e. on 14th Jestha, 2080 to Nepalese Citizens working aboard. The issue opened on the 31st of Baisakh.

Similarly, the company will be issuing 35,25,930 unit shares of Rs 100 face value to the general public from 26th Jestha to 30th Jestha, 2080. If the issue is not fully subscribed, it can be extended up to Ashad 08, 2080.

The issued capital of the company is Rs. 96.75 crores of which 44.99% i.e. 43,53,000 unit shares worth Rs. 43.53 crores have been set aside to the general public of which; 10% i.e. 4,35,300 units have been allocated for Nepalese citizens working abroad, whereas 4% i.e 174,120 units have been set aside for the employees of the company, and 5% of the total offered shares i.e. 217,650 units have been set aside for the mutual funds. The remaining 35,25,930 units are for the general public.

Mega Capital Markets is appointed as the issue manager for the IPO issuance. The minimum application quantity to be applied for both general and Nepalese citizens working abroad is 10 units while the maximum quantity is 500 units.

According to CDSC, 20,223 applications have been received through Nepalese citizens working abroad for a total of 673,990 units. Thus, the issue is already oversubscribed by 1.54 times so far.

Nepal Republic Media Pvt. Ltd., the publication house of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly is the first media sector to issue an IPO to the general public.

Incorporated in August 2008, New Republic Media Private Ltd was later converted to Nepal Republic Media Ltd in June 2021. The principal objective of the company is to disseminate the news through its various publications. The company was founded by Mr. Binod Raj Gyawali.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned the issuer rating of IRN B+ (Is) [Single B Plus (Issuer)] to Nepal Republic Media Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.

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