IPO Proposal of Nepal Republic Media Finally Approved By SEBON; Company To Issue IPO Worth Rs 43.53 Crore Soon

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Nepal Republic Media Limited on Baisakh 11.

The company will now issue 4,353,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 43.53 Crore. This is 44.99% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 96.75 Crores of the company.

Mega Capital Markets Limited has been appointed as the issue manager for the proposed IPO issuance.

Nepal Republic Media Pvt. Ltd., the publication house of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly is the first media sector to issue an IPO to the general public.

Incorporated in August 2008, New Republic Media Private Ltd was later converted to Nepal Republic Media Ltd in June 2021. The principal objective of the company is to disseminate the news through its various publications. The company was founded by Mr. Binod Raj Gyawali.

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