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Jagadamba Steels Limited IPO Result Date – Coming Soon

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Jagadamba Steels Limited IPO

Jagadamba Steels Company was established in 1994 A.D. Being part of the Shankar Group, it is one of the oldest and the biggest private sector in Nepal. Its head office is located in Simara in Bara district, Nepal.

It has a steel production capacity of approximately (करिब) 23 lakh tons. In the fiscal year 2078/79, the company had an annual turnover (वार्षिक कारोबार) of 49 Arab and 66 crores; in 2079/80, it had an annual turnover of  40 Arab and 17 crores.

SEBON is reviewing the document of Jagadamba Steels Ltd. and is in the final stage to permit launching an IPO. The company will issue 2,00,70,000 units (कित्ता) of shares worth Rs. 6,021,000,000 at a premium price. For foreign employees, 20,00,000 units of shares will be opened for application, where an individual can apply for 50 to 120 units (कित्ता) of shares. For the general public, 15,00,000 units of shares will be released.

The company’s share will have a face value of Rs. 100. An additional Rs. 200 is added for the premium, making the final price Rs. 300 per unit (कित्ता) of share. All shares will be issued at Rs. 300 each.

Name of the company Jagadamba Steels Limited
Sector Manufacturing
Type of issue IPO
No. of share 20,070,000 (कित्ता)
Amount of issue 6,021,000,000
Issue Manager Siddhartha Capital Limited
Date of application 2080/06/17
Date of comment 2080/08/12

2080/09/20

Date of reply 2080/08/18
For Local and General Public at premium price @300

There are 16 upcoming IPOs in the final stages and this is one of them. Jagadamba Steels Limited applied for an IPO on 2080/06/17. SEBON made the initial comment on the application on 2080/08/12. This comment was later reviewed on 2080/08/18, and the final comment was sent by SEBON on 2080/09/20. Jagdamba Steel Company is now awaiting permission.

FAQs

How many shares are being released by Jagadamba Steels Limited IPO?

Jagadamba Steels Ltd. is supposedly going to issue 20,070,000 shares.

When are the new shares being issued by Jagadamba Steels Ltd.?

The application is under final review by SEBON, the shares will be issued soon. 

What is the income of Jagadamba Steel?

In the year 2021, the profit of Jagadamba Steel was 14 billion, 46 million.

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Chhyangdi Hydropower Extends Deadline for Rights Share Application | Until 27th Ashad

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Chhyangdi Hydropower

The deadline for the ongoing rights share issue of Chhyangdi Hydropower Limited (CHL) has been officially extended until 27th Ashad, 2082. The issue had originally opened on 23rd Jestha, 2082, with an earlier closing date set for 12th Ashad, 2082.

Key Details of the Rights Share Issue

Details Information
Total Right Shares Issued 3,869,775 units (1:1 ratio)
Face Value per Share Rs. 100
Total Issue Amount Rs. 38.69 Crore
Current Paid-up Capital Rs. 38.69 Crore
Post-Issue Paid-up Capital Rs. 77.39 Crore

As per the Central Depository System and Clearing Limited (CDSC), 23,503 applicants have applied for 2,317,902 units (worth Rs. 23.17 Crore) as of yesterday.

Eligibility and Application Process

Only those shareholders who held shares before the book closure date of 2nd Jestha, 2082, are eligible for this right share offering.

Interested shareholders can apply through:

  • Global IME Capital Limited, Naxal, Kathmandu (Issue Manager)
  • Designated branches of Global IME Bank Limited across Lamjung, including Besisahar, Sundarbazar, Bhulbhule, Siundibar, Udipur, and Dordhi
  • Any C-ASBA-approved banks and financial institutions
  • Online via “MeroShare”.

Applicants are advised to complete the process before banking hours on 27th Ashad, 2082 (Friday).

Important Note:

Payments must be made through an account payee cheque drawn in the name “GICL-BOK-CHHYANGDI RIGHT SHARE”, as per the instructions from Global IME Capital Ltd.

Contact Information

Notice: Chhyangdi Hydropower Extends Deadline for Rights Share Application 

Notice of Chhyangdi Hydropower Extends Deadline for Rights Share Application

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Election Commission Preparing to Announce By-Election Date | Voter Registration Now Open

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The Election Commission of Nepal has begun preparations for by-elections to fill vacant positions at various levels of government. As part of this process, the Commission is urging all eligible Nepali citizens who have not yet registered their names in the voter list to do so immediately.

According to the Assistant Spokesperson of the Election Commission, Mr. Durga Prasad Chalise, individuals will not be allowed to register in the voter list once the election date is officially announced. Therefore, he emphasized the importance of early registration to avoid being left out.

The Election Commission recently held discussions with the Prime Minister, Mr. KP Sharma Oli, and the Acting Chief Election Commissioner, Mr. Ram Prasad Bhandari. They talked about setting a date for the by-elections. The main focus was on two key areas: Rupandehi Constituency No. 3 for the House of Representatives and Manang Province Assembly Constituency No. 1 (B). Elections in these regions are likely to be held in the second week of Kartik.

The position in Rupandehi became vacant after the passing of Rastriya Prajatantra Party MP Deepak Bohora. In Manang, the seat became empty after provincial assembly member Deepak Manange was sent to jail. In addition to these, more than a dozen ward chairman positions are also currently unoccupied in various local governments.

The Election Commission has issued a public notice dated 2082/03/11 (Nepali calendar) urging all citizens to register in the voter list immediately. The notice mentions that, according to Clause 4(2)(2) of the Voter List Act, 2073, voter registration will be stopped as soon as the election date is declared.

Hence, this is a final chance for anyone who missed earlier opportunities to register. The Commission has made a heartfelt appeal to all brothers and sisters across the country to take this opportunity seriously and get their names included in the voter list.

The Election Commission assures that the upcoming elections will be conducted fairly and freely, in line with its guiding principle:
“Free and Fair Election: Pride of the Nation.”

For more information or assistance, people can visit the official website of the Election Commission at www.election.gov.np or contact their office at Kantipath, Kathmandu.

Notice: Election Commission Preparing to Announce By-Election Date

Notice of Election Commission Preparing to Announce By-Election Date

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Birgunj Customs Office Collects Highest Revenue from Petroleum Imports

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Birgunj Customs Office Collects Highest Revenue from Petroleum Imports

The Birgunj Customs Office has collected the highest revenue from the import of petroleum products in the first 11 months of the current fiscal year 2081/82. According to the office, a total of NPR 73.18 billion was collected in revenue from petroleum imports alone.

During this period, Nepal spent about NPR 174.09 billion to import five different types of petroleum products. These petroleum imports contributed 46.43% of the total revenue collected from the top 20 imported items, making it the most important source of income for the customs office.

Major Revenue Contributors from Imports

Major Revenue Contributors from Imports

What Officials Say

Customs Chief Administrator Deepak Lamichhane stated that petroleum products and vehicle imports are the main sources of customs revenue at Birgunj. He highlighted that these two sectors consistently contribute the highest share of government income collected through imports.

Conclusion

The data from the Birgunj Customs Office shows that fuel and vehicles remain Nepal’s most heavily imported and taxed items. With more than 46% of the revenue coming from petroleum alone, any changes in fuel prices or import volumes can significantly affect national customs revenue.

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