Kathmandu. 117 companies have applied to the Securities and Exchange Board of Nepal (SEBON) seeking approval for the issuance of ordinary shares (IPO). These companies have sought permission to issue 519 million shares worth a total of more than 71.42 billion rupees.

SEBON has classified the IPO applications into 6 phases. There are 76 companies in the first phase, 6 in the second, 4 in the third, 19 in the fourth, 10 in the fifth and 2 in the sixth phase. Ashutosh Energy and Kantipur Pharmaceuticals Lab, which are in the final review phase, have applied for IPO issuance worth 120 million and 170 million rupees respectively. SEBON has stated that it will not approve the IPO issuance until the necessary documents, prospectus and legal and regulatory criteria are met.