3rd November 2025, Kathmandu
The Nepali financial and investment landscape is set to see a significant shift in leadership as Niranjan Phuyal, who served as the Acting Deputy Chief Executive Officer of the Nepal Stock Exchange (NEPSE), has formally resigned from his post.
Niranjan Phuyal Resigns from NEPSE
His resignation was officially accepted by NEPSE’s Board of Directors on Sunday, 16 Kartik 2082. This departure concludes his tenure at the country’s sole stock market and clears the way for his next strategic move: assuming the top executive role at a major investment company.
The Transition from Regulator to Investment Leader
Mr. Phuyal’s resignation process was reportedly affected by recent instability, with the approval delayed due to the “Gen Z movement” and ensuing employee protests that caused disruptions in the capital market’s operational activities around mid-Bhadra (late August/early September). The formal acceptance of his resignation now paves the path for him to take on his new leadership challenge.
New Role at NRN Infrastructure
According to market sources, Niranjan Phuyal is preparing to assume the role of Chief Executive Officer (CEO) at NRN Infrastructure and Development Limited (NRN). The company’s Board is expected to make his formal appointment announcement shortly.
This move represents a transition from a crucial regulatory and supervisory role at NEPSE, which governs the trading of listed securities, to a direct leadership role in a major investment and development company. As CEO, Phuyal will be tasked with directing NRN Infrastructure’s strategic investments, risk management, and overall operational growth.
The NRN Infrastructure Mandate
NRN Infrastructure and Development Limited is a public limited company founded by Non-Resident Nepalis (NRNs) with the primary objective of mobilizing capital from the diaspora into high-priority sectors in Nepal.
- Core Focus: The company’s core investment areas are centered on infrastructure projects, primarily hydropower, but also include other diversified sectors such as banks, financial institutions, and specialized funds.
- Key Projects: NRN Infrastructure has a portfolio that includes significant stakes in various hydroelectric projects, such as the 27 MW Dordi Khola Hydropower Project and the 73 MW Middle Tamor Hydropower Project, among others.
- Previous CEO Link: The transition is made notable by the connection to the company’s former CEO, Hemant Basnyal, who currently serves as the Chairperson of NEPSE. This connection highlights the fluidity of high-level talent movement between Nepal’s financial regulators and major financial institutions.
Mr. Phuyal’s extensive experience in capital markets, including training in international securities market operations, anti-money laundering, and financial analysis, is expected to be instrumental in steering NRN Infrastructure’s multi-billion rupee investment portfolio and enhancing its governance structure. His appointment is positioned to provide the company with the experienced leadership needed to manage its large-scale, long-term development projects and maximize returns for its diverse shareholder base, predominantly comprising the Nepali diaspora.
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