SEBON gives final approval for IPO to two companies; issues worth total of Rs.1.93 Arba approved

Tue, Feb 18, 2020 2:18 PM on External Media, IPO/FPO News, Latest,
SEBON give...

Securities Exchange Board of Nepal (SEBON) has approved proposed IPO of two companies, NRN Infrastructure and Development Limited and Nepal Re-Insurance Company Limited.

NRN Infrastructure and Development Limited is looking to raise capital worth Rs.33.98 Crore through issue of 3,398,046 units of shares at par value of Rs.100 per share. The total capital after the IPO will be Rs 113.26 crore. 

Sanima Capital Limited has been appointed as the issue manager.

CRNL has assigned ‘CARE-NP IPO Grade 4’ grading to the proposed Initial Public Offering (IPO) of NRN Infrastructure and Development Limited (NRNIL). ‘CARE-NP IPO Grade 4’ indicates Below Average Fundamentals. The approved units is 30% of the total paid up capital of the company. 

Similarly, Nepal Re-Insurance Company Limited will be issuing 16 Million units of shares at par value of Rs.100 per share to raise capital worth Rs.10 Arba.

RBB Merchant Banking Limited has been appointed as the issue manager.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 2 to the Rs.1.60 Arba Initial Public Offer of Nepal Re-Insurance Company Limited. Instruments with this grading are considered to have above-average fundamentals. The approved units is 16% of the total paid up capital of the company.