Kathmandu, July
3: Sunrise Capital Limited (SCL) celebrated its silver jubilee on Monday.
However, the
celebration marked 25 years of the establishment of the NIDC Capital Market
Limited, which was established in 1992. Sunrise Bank had acquired it last year.
The NIDC Capital had established a subsidiary company, NCM Merchant Banking
Limited about eight years ago.
When Sunrise
Bank acquired NIDC Capital, it rebranded NCM as SCL last year.
Sunrise Bank
Limited and Rastriya Banijjya Bank Limited have stakes in the company.
SCL organised an
event to mark the completion of the 25 years of the establishment of the
merchant banking.
The SCL has
managed Initial Public Offerings (IPOs) of 82 companies, right shares of 77
companies and underwriting of 32 companies. It was a share registrar of 34
companies and is currently working as the share registrar for a dozen
companies.
NIDC Capital had
launched the ‘NCM First Mutual Fund’, the first mutual fund scheme in the
country, in 1993, and managed the second mutual fund ‘NCM Mutual Fund – 2059’.
Chief Executive
Officer of the company Bijaya Lal Shrestha said that it had got approval from
the Securities Board of Nepal (SEBON) to manage Sunrise Mutual Fund.
The company is
planning to offer services like corporate restructuring, valuation, business
plan, loan syndication, working capital financing, venture capital, private
equity and hedge fund.
Published in The Rising Nepal daily on 4 July 2018.
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