Nepal, May 20 -- The Securities Board of Nepal (SEBON) has rejected the IPO (Initial Public Offering) applications of 14 companies. SEBON stated that the applications were rejected due to low net worth and the nearing expiration of power purchase agreements (PPAs) of some of the companies.

The SEBON has rejected IPO applications from companies in its pipeline, including 6 hydropower companies, 4 from the tourism sector, 1 media organization, 2 pharmaceutical companies, and 1 helicopter company. These companies have been instructed to reapply.

According to SEBON Spokesperson Niranjaya Ghimire, most proposals were rejected because the companies had a real net worth of less than Rs 90 without undergoing a proper revaluation. Out of the 14 ...