A total of Rs 7 billion IPO of 26 companies is coming
Various 26 companies are preparing to bring 65.9 million 49 thousand 289 lots of IPO worth Rs. 7 billion 266 million 28 thousand 900.These companies have applied to the Securities and Exchange Board of India (SEBI) for an IPO.
Of the companies in the board’s pipeline to issue ordinary shares, 20 are hydropower companies. The remaining companies include two insurance companies and two microfinance companies.
Of the 26 companies in the pipeline, Reliable Life Insurance has said that it is going to issue IPO at the rate of Rs 212 per quintal by adding Rs 112 in premium. But the company has not been able to issue an IPO as the Securities and Exchange Board has not given permission.
Other companies preparing for IPO issuance are IME Life Insurance Company, Dis Media Network, Upkar Microfinance Institution, Adarsh Microfinance Financial Institution, CYC Nepal Microfinance Company.
Some companies have been in the board’s pipeline for more than two years. Himalayan Power Company had approached the board on November 12, 2008 saying that it would issue an IPO.
The board of Vindhabasini Hydropower Development Company was reached on January 22, 2008. The company has not issued an IPO even after two years. Still in the pipeline.Dishome Media Network, which reached the board on July 12, 2077, has not yet issued an IPO.
Board’s pipeline includes Molung Hydropower Company, Threestar Hydropower, Sickles Hydropower, Supermai Hydropower, Sanjen Hydropower Company (Local), Eastern Hydropower, Asian Hydropower, Rasuwagadhi Hydropower (Local), People’s Power, Mud. The IPOs of Upper Hewakhola Hydropower Company and others are in the pipeline of the board.
As there is no chairman in the securities board, no company has been allowed to issue IPO for about six months. Now the board has got a chairman. In the last one month, three companies have issued IPOs