Nepal IPO Market: Upcoming Issues Analysis

This report summarizes the major upcoming Initial Public Offerings (IPOs) in Nepal across various sectors, based on recent data from the Securities Board of Nepal (SEBON).

Table of Potential IPOs

Sector	Company Name	Shares to Issue	Total Value (NPR)
Hotels & Tourism	Apex Hospitality	2.25 Million	225 Million
Hotels & Tourism	Annapurna Cable Car	4.34 Million	434 Million
Hotels & Tourism	Akama Hotel	8.28 Million	828.5 Million
Hotels & Tourism	Thamel Plaza Hotel	2.25 Million	225 Million
Hotels & Tourism	Varnabas Museum Hotel	3.16 Million	316 Million
Hotels & Tourism	Mountain Glory	4.00 Million	400 Million
Hotels & Tourism	Maulakalika Cable Car	1.87 Million	187 Million
Hotels & Tourism	Nagarkot Resort	1.50 Million	150 Million
Hotels & Tourism	Hotel Sabrina	4.74 Million	474 Million
Hotels & Tourism	Swapnam Hotel	3.80 Million	380 Million
Hotels & Tourism	Shree Airlines	6.30 Million	1.26 Billion
Hotels & Tourism	Hotel Iccha	3.50 Million	350 Million
Hotels & Tourism	Atithi Resort	1.62 Million	162.5 Million
Hotels & Tourism	Asian Hotel	4.20 Million	420 Million
Hotels & Tourism	Hotel Park Land	1.50 Million	150 Million
Hotels & Tourism	Budhanilkantha Heritage	4.95 Million	495 Million
Hotels & Tourism	Doleshwor Village Resort	1.62 Million	162 Million
Hotels & Tourism	KT Room Hospitality	1.55 Million	155.5 Million
Hydropower	Siuri Nyadi Power	20.30 Million	3.03 Billion
Hydropower	United Mewakhola	12.30 Million	1.23 Billion
Hydropower	Mewa Developers	11.20 Million	1.12 Billion
Hydropower	Nilgiri Khola Hydro	7.12 Million	702 Million
Hydropower	Super Khudi Hydro	4.15 Million	415 Million
Manufacturing	Jagdamba Steels	27.00 Million	6.62 Billion
Manufacturing	Sourya Cement	15.90 Million	5.32 Billion
Manufacturing	Maruti Cement	11.60 Million	4.94 Billion
Manufacturing	Hulas Infra	3.54 Million	1.18 Billion
Manufacturing	Arghakhanchi Cement	12.10 Million	2.89 Billion
Investment	Shivam Holdings	11.60 Million	1.16 Billion
Others	Dish Media Network	19.70 Million	1.97 Billion
Others	Hulas Finserve	2.07 Million	207 Million
Others	Prabhu Helicopter	6.12 Million	612 Million

Key Sector Insights

Manufacturing & Processing

The manufacturing sector represents the highest capital injection in the pipeline. 

• Jagdamba Steels leads the market with a massive NPR 6.62 Billion issue.
• Cement giants like Sourya and Maruti are also preparing for significant public debuts, indicating a trend toward industrial growth through public equity.

Hydropower & Energy

Hydropower remains the most active sector in terms of the number of projects. While many are small-scale, projects like Siuri Nyadi Power (NPR 3.03 Billion) show that large-scale infrastructure funding is shifting toward the capital markets.

Hotels & Tourism

With Nepal's focus on tourism, several hotels and cable car projects (like Annapurna and Maulakalika) are going public. A standout in this category is Shree Airlines, seeking to raise NPR 1.26 Billion.

Others & Media

Dish Media Network is a significant upcoming player in the "Others" category, with an issue valued at nearly NPR 2 Billion, highlighting the diversification of the Nepal Stock Exchange (NEPSE) beyond just banks and hydro.

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Investor Considerations

1. Premium Pricing: Unlike traditional hydropower IPOs at NPR 100, several manufacturing companies may offer shares at a premium price.
2. Sector Diversification: The current pipeline offers investors a chance to diversify away from the financial and energy sectors into tourism and manufacturing.
3. Market Liquidity: The total volume of shares entering the market is substantial, which will require significant retail and institutional participation.

Note: Data is based on current SEBON filings and is subject to change based on approval timelines.