NRN Infrastructure and Development (NRN) Declares First Dividend After Being Public

 NRN Infrastructure and Development Limited (NRN) has declared a 3% dividend for the fiscal year 2076/77.

The meeting of the board of directors held on Poush 16 has decided to distribute 2.85% of the paid-up capital as bonus shares and 0.15% in cash dividend. While the bonus shares are worth 3,22,814 units, the cash dividend worth Rs. 16,99,021 is for tax purposes.

This is the company's first dividend after being public and enlistment in NEPSE. After a successful IPO issue, NRN had made its debut on the Nepalese trading floor on August 26.

NRN Infrastructure and Development Limited (NRN) has already published its first-quarter report of FY 2077/2078 with an increase in Net Profit by 64.11%. The net profit of the company increased to Rs. 34.94 Lakhs from Rs. 21.29 Lakhs in the corresponding quarter of the previous year.

The company’s paid-up capital stood at Rs. 1.13 Arba and has a reserve and surplus of Rs. 3.92 crores. The company has an investment in associates of Rs. 38.03 crores in Q1 of FY 2077/2078. NRN reported total revenue of Rs. 67.09 Lakhs and an operating profit of Rs. 57.92 Lakhs in this quarter. The company reported an annualized EPS of Rs. 1.23 and net worth per share of Rs. 103.47. The stock traded at a P/E multiple of 283.66 times.

SEBON Just Approved the Biggest IPO Issue Ever; 8 Crore Unit Shares to be Issued

 SEBON has approved the IPO issue proposal of Nepal Infrastructure Bank Limited.

Nepal Infrastructure Bank Limited had submitted an application in SEBON to issue IPO for 40% of its issued capital. This amounts to 8 crore shares in the IPO worth 8 Arba. The bank has already appointed CIT as the underwriter and NIBL Ace Capital as the issue manager.

Now that the issue is approved, this will be the biggest IPO in the history of Nepal's capital market. The second AGM of the company had endorsed/approved the issuance of IPO. After the IPO issuance, the company's paid-up capital will reach Rs. 20 Arba from the existing Rs. 12 Arba.

The company was established to serve and benefit from investment in significant infrastructure projects like Hydropower projects, road infrastructures, etc. However, Nepal Infrastructure Bank's profit declined by 12.43% to Rs 18.01 crore in the first quarter of the fiscal year 2077/78. Its annualized earning per share stands at Rs 6, and net worth per share stands at Rs 115.

Chandragiri Hills issuing IPO share to general public from Poush 24; Lucky 1.39 lakh applicants will get 10 unit shares

 Chandragiri Hills Limited will be issuing 15,34,091 units worth Rs 15.34 crore as Initial Public Offering to the general public from Poush 24, 2077. The early closing date of this issue is on Poush 28 and if the issue is not fully subscribed till Poush 28, then it can be extended up to Magh 09, 2077.

Out of the offered 15,34,091 units; 4% of the total offered shares to the general public i.e. 61,364 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 76,705 units have been set aside for the mutual funds. The remaining 13,96,022 units are for the general public.