August 8, 2024, Kathmandu
Nepal’s Financial Services Sector Welcomes 30th Merchant Banker.
Himalayan Merchant Banker Licensed
Himalayan Merchant Banker, a subsidiary of Himalayan Reinsurance, has officially received its merchant banker’s license. The decision was made during a meeting of the Board of Directors of the Nepal Securities Board (SEBON) on Wednesday, according to SEBON President Mahesh Baral. He stated that the license was granted after the company fulfilled all necessary criteria.
With a capital of Rs 20 crore, Himalayan Merchant Banker is now authorized to conduct all activities related to the issuance and sale of securities. Additionally, the company will function as an underwriter, stock registrar, and share registrar.
About Himalayan Merchant Banker
Himalayan Merchant Banker, a subsidiary of Himalayan Reinsurance, has recently secured its merchant banker license from the Nepal Securities Board (SEBON). This milestone marks a significant development in Nepal’s financial services sector, as the company becomes the 30th merchant banker in the country.
With a robust capital base of Rs 20 crore, Himalayan Merchant Banker is poised to play a pivotal role in facilitating capital market activities. Its core functions encompass underwriting, stock registration, and share registration. These services are crucial for companies seeking to raise capital through public offerings, as they provide essential support in the issuance and management of securities.
The entry of Himalayan Merchant Bankers into the market is expected to enhance competition and offer investors a wider range of choices. As the company establishes its foothold in the industry, it will be interesting to observe its contributions to the growth and development of Nepal’s capital market.