Despite the number of Demat accounts soaring past 6 million, IPO issues have historically been limited to a few lakh units. Under the current "10 kitte" policy, the vast majority of the 2 million-plus active applicants walk away empty-handed.
However, a massive shift is on the horizon. More than a dozen powerful companies across the hydropower, manufacturing, investment, and media sectors are sitting in the Securities Board of Nepal (SEBON) pipeline, awaiting approval. With each of these "Mega IPOs" boasting issue counts exceeding 10 million (1 crore) units, there is a strong possibility that the general public will finally receive guaranteed share allocations.
The Hydropower Heavyweights
The hydropower sector continues to dominate the pipeline with four major companies preparing to release billions of rupees worth of shares:
- Siuri Nyadi Power Limited: Leading the pack with 30,360,784 units. Managed by NMB Capital, the company submitted its compliance report response in Poush 2082.
- Raghuganga Hydropower Limited: Applied on Jestha 8, 2083, to issue 15,000,000 units through NIC Asia Capital.
- United Mewa Khola Hydropower Limited: Set to issue 12,300,000 units via Himalayan Capital.
- Mewa Developers Limited: Preparing for an issue of 11,200,000 units, also through Himalayan Capital.
Manufacturing Sector: Premium vs. Face Value
The manufacturing, cement, and steel industries are gearing up to create major waves in the primary market. While some are leveraging premium pricing, others are sticking to the traditional face value.
Premium Price Trajectory
Several manufacturing giants are adding a premium to their face value, introducing high-value, high-volume stock to the market:
|
Company Name
|
Issue Volume (Units)
|
Premium Price per Share
|
Issue Manager
|
|
Riddi Siddhi Cements
|
12,171,500
|
Rs 246
|
NIMB Ace Capital
|
|
Jagdamba Steels Limited
|
20,070,000
|
Rs. 330
|
Siddhartha Capital
|
|
Sauraya Cement Industries
|
15,981,500
|
Rs. 333
|
Global IME Capital
|
|
Maruti Cements Limited
|
11,600,000
|
Rs. 426
|
NIMB Ace Capital
|
|
Ambe Steels Limited
|
11,192,727
|
Rs. 303
|
Nabil Investment Banking
|
Face Value Offerings (Rs. 100)
For investors looking for standard pricing, three massive manufacturing and steel companies are in the pipeline to offer shares at the base face value of Rs. 100:
- Godavari Steel Limited: Preparing a massive 10,500,000 units issue through Sanima Capital.
- Subhashree Agni Cement Industries: Gearing up to issue 20,210,000 units via Machhapuchchhre Capital.
- Mahashakti Cement Limited: Preparing to issue 17,850,000 units through Laxmi Sunrise Capital.
Big Names in Investment and Media
The expansion isn't limited to infrastructure and manufacturing. Two major household names are also racing toward the primary market:
- Dish Media Network Limited (DishHome): The prominent television and internet service provider has submitted its compliance report to SEBON to issue 19,705,970 units through Prabhu Capital and Kumari Capital.
- Shivam Holdings Limited: Operating in the investment sector, the company is issuing 11,600,000 units at a premium price of Rs. 210 through Siddhartha Capital.
A New Dawn for Ordinary Investors?
According to stock market analysts, the approval of these mega-issues will fundamentally change the dynamics of the Nepalese capital market. Beyond significantly expanding overall market capitalization, the sheer volume of shares means that the days of mass disappointment for retail investors might temporarily come to an end.
The Big Picture: While these mega IPOs are expected to rejuvenate the primary market and lift investor morale, market observers note that Nepalese secondary market growth has faced resistance due to a lack of institutional depth. To sustain this upcoming influx of capital, the newly appointed SEBON President, Gopal Bhatta, will need to prioritize policies that welcome large-scale buyers—such as domestic institutional investors, foreign institutional funds, and Non-Resident Nepalese (NRNs).
