Santosh Narayan Shrestha has been appointed as the new Chairman of SEBON by a decision of the cabinet meeting held on Monday, November 25, 2024 (10 Mangsir, 2081).
The newly appointed Chairman holds a Master’s degree in Business Studies (MBS) and brings extensive professional experience. Previously, he served as a director at the Nepal Electricity Authority and various financial institutions. Shrestha is a permanent resident of Syangja, Gandaki Province.
The position of Securities Board of Nepal (SEBON) Chairman has remained vacant since December 20, 2023 (5 Poush, 2080), after the completion of Ramesh Kumar Hamal’s term. This vacancy had caused delays in approvals for public offerings, including IPOs, bonds, mutual funds, and rights issues.
With Shrestha’s appointment, the 77 companies waiting for approval of Upcoming IPO are expected to get approval soon, along with other pending applications, making it easier for public offerings to proceed in the market. However, Guardian Micro Life Insurance’s IPO was approved for issuance yesterday by the board before the appointment of the new chairman as the company has already completed the required criteria. The Guardian Microlife insurance IPO open date has not been announced yet by the company, but it is expected to be available soon.