SEBON Approves 7 More Institutional Investors to Participate in IPOs Via Book-Building Process

Securities Exchange Board of Nepal (SEBON) has chosen seven more institutions to function as institutional investors during the IPO process under the book building method.

Book building is the process by which an underwriter attempts to determine the price at which an initial public offering (IPO) will be offered. An underwriter, normally an investment bank, builds a book by inviting institutional investors (such as fund managers and others) to submit bids for the number of shares and the price(s) they would be willing to pay for them.

There were a total of 46 institutional investors initially in Nepal eligible for the book-building process. SEBON added 25 more investors in 2077 B.S. The board then added 24 more institutional investors in year 2078. Again, 14 more institutional investors were added till Ashad 17, 2079. Now, the regulatory body has added 7 new institutional investors on Ashad 22 that can participate in the book-building process. With this, there are a total of 116 institutional investors that will participate in the book-building process.

This is the list of the 7 new institutional investors added recently:
1) Asian Life Insurance Company Limited
2) Mega Mutual Fund - 1 (MMF1)
3) NIC Asia Select 30 (NICSF)
4) Sunrise First Mutual Fund (SFMF)
5) NIC Asia Flexi Cap Fund (NICAFCF)
6) Sunrise Bluechip Fund (SBCF)
7) Nabil Bank Limited (NABIL)