Nepal Republic Media, First Media House to Issue IPO Shares to Nepalese Employed Abroad and General Public

Kathmandu: Nepal Republic Media Limited (NRML) has announced plans to issue an Initial Public Offering (IPO) for its shares to Nepalese citizens working abroad and the general public. The media company will be offering 35,25,930 unit shares with a face value of Rs 100 to the general public from 26th Jestha to 30th Jestha, 2080.

Meanwhile, 4,35,300 units of IPO shares have been allocated for Nepalese citizens working abroad, and the issue will be open from 31st Baisakh to 14th Jestha, 2080. It is important to note that the issue can be extended for the general public till Ashad 08, if it is not subscribed by the early closing date. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.

NRML has set aside 44.99% of its issued capital, which is Rs. 96.75 crores, for the general public, with 43,53,000 unit shares worth Rs. 43.53 crores. Out of this, 10% of the shares have been allocated for Nepalese citizens working abroad, 4% for the company’s employees, and 5% for mutual funds. The remaining 35,25,930 units are for the general public.

Mega Capital Markets has been appointed as the issue manager for the IPO issuance, and the minimum application quantity for both general and Nepalese citizens working abroad is 10 units, while the maximum is 500 units.

NRML is the first media company to issue an IPO to the general public. The publication house of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly was incorporated in August 2008 and later converted to Nepal Republic Media Ltd in June 2021.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned NRML an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)]. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.