28th September 2025, Kathmandu
The Fifth Annual General Meeting (AGM) of Norvic International Hospital and Medical College Limited, successfully concluded on Ashoj 9, 2082 (September 25, 2025) in Kathmandu, has set a clear path for the hospital’s strategic growth and capital expansion.
Norvic Hospital Concludes AGM
The decisions made are particularly significant as they follow a period of organizational restructuring and aim to transition the institution into a publicly listed company, demonstrating enhanced commitment to corporate transparency and shareholder engagement.
Major Decisions from the 5th Annual General Meeting
The AGM served as the forum for approving key financial, capital, and governance resolutions that will shape the hospital’s future.
1. Capital Expansion and Share Issuance
The most critical outcome was the approval of a two-pronged strategy to enhance the hospital’s equity base:
Issuance of 25 Million Ordinary Shares (IPO): The hospital has decided to initiate the process of issuing 25 million ordinary shares to the general public. This Initial Public Offering (IPO) is a monumental step that will raise significant fresh equity capital. The funds generated are earmarked for vital operational expansion, including the upgrading of medical facilities, investment in advanced healthcare technology, and overall improvement of patient care services, positioning Norvic as a major player in Nepal’s healthcare market.
Approval of 40 Percent Bonus Shares: In a move to reward existing shareholders and increase their proportional ownership, the AGM passed a special proposal to distribute 40 percent bonus shares based on the current paid-up capital. This strategy allows the hospital to retain liquid capital for operations and growth initiatives while simultaneously increasing the equity stake of its shareholders, fostering a strong, long-term commitment to the institution.
2. Corporate Governance and Leadership Stability
The AGM decisions also emphasized stability and strong governance practices:
Unopposed Election of Directors: The meeting saw the unopposed election of five directors, indicating strong consensus and confidence in the current leadership. The elected directors, who are continuing from the previous board, are: Rajendra Bahadur Singh, Megha Chaudhary, Bhuvanchandra Bhatt, Gajendraman Shrestha, and Manish Kumar Khemka. This continuity is vital for maintaining strategic momentum during the critical phase of public listing and operational expansion.
Appointment of Auditor: The AGM officially appointed S.R. Pandey & Company as the statutory auditor for the upcoming fiscal year. This action underscores the hospital’s dedication to maintaining the highest standards of financial transparency and regulatory compliance in its accounting and reporting practices.
3. Professional Management of the Public Issuance
To ensure the public share issuance is executed seamlessly, transparently, and in strict adherence to regulatory requirements, the hospital has taken a proactive step:
Appointment of Laxmi Sunrise Capital Limited: Laxmi Sunrise Capital Limited has been formally appointed as the issue and sales manager for the public share issuance. The professional expertise of the issue manager will be instrumental in overseeing the entire process, including regulatory filings, subscription management, allotment, and distribution, thereby instilling greater confidence among prospective investors regarding the fair execution of the IPO.
Strategic Rationale and Future Outlook
The comprehensive set of resolutions passed at the Fifth AGM has profound strategic significance for Norvic International Hospital:
Catalyst for Operational Scale: The infusion of fresh capital from the IPO will directly enable the hospital to significantly expand its capacity, which includes potentially adding new specialised departments and modernising existing infrastructure. This will allow Norvic to serve a larger patient base with enhanced quality of care.
Enhanced Market Profile: By listing on the stock exchange and becoming a public company, Norvic International Hospital will substantially boost its visibility, credibility, and trustworthiness within the Nepalese healthcare and financial sectors. This heightened public profile is expected to attract a wider pool of investors and stakeholders.
Sustainable Shareholder Value: The combination of an immediate reward (40% bonus shares) and a capital-raising event (IPO) ensures that the benefits accrue to both existing shareholders, whose equity grows, and new investors, who gain a stake in a growing, governed institution. This balanced approach is crucial for building a durable, diversified, and committed shareholder base.
Commitment to Corporate Governance: The successful, unopposed director elections and the meticulous appointment of an external auditor highlight the hospital’s adherence to best practices in corporate governance, which is a key factor in long-term institutional stability and investor trust.
In conclusion, Norvic International Hospital and Medical College Limited’s Fifth AGM was a pivotal milestone, successfully solidifying the foundational elements necessary for its next phase of strategic growth. By approving a large-scale public share issuance, generously rewarding existing shareholders with a 40 percent bonus, and ensuring leadership continuity and financial oversight, the hospital has strongly positioned itself for sustainable expansion and continued delivery of high-quality medical services, setting a new benchmark for corporate development in the Nepali healthcare sector. The appointment of Laxmi Sunrise Capital Limited further assures a professional and transparent execution of these ambitious growth plans.
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