KATHMANDU, June 8: Binod Tripathi of Kavrepalanchok is currently working in Suceava, Romania, a country bordering the war-torn Ukraine. Even though he is abroad, he is equally interested in the shares of Nepali companies. This time he applied for the Initial Public Offering (IPO) issued by Nepal Republic Media Limited. He expressed his belief that if the media moves forward honestly, it will become a driving force for the country's prosperity.
Tripathi is among those receiving a portion of shares allocated for those Nepali nationals employed abroad. “Media is also the fourth estate of the country,” he said, “I became a part of this campaign with the belief that it would illuminate the path for our society.”
Tripathi expressed that he had been compelled to seek opportunities abroad due to the lack of job prospects in the country. He revealed that he resided in Dubai for four years. "After coming back from Dubai, I did think of doing something in my own country. But I was forced to go abroad again due to lack of job prospects at home," he said.
Tripathi mentioned that people like him can stay within the country if the country moves forward in the path of economic progress. "We still think that many people in our society are not well-informed about important issues," he said, while expressing his belief that the media can play a significant role in raising awareness among the public.
Resham Adhikari from Chitwan shares the same belief. Adhikari, who has been living outside Nepal for 16 years, is delighted to subscribe to the IPO issued by Nepal Republic Media Limited. "It was the first time that I had the opportunity to apply for a share in the media. I was delighted to know that I got the share as well," he said, "Now I feel that I also belong to this organization."
Adhikari said that people still have expectations from the media. "Yes, because of a few media outlets, many people see the media in a negative light," he said. "But good media is a mirror of society." "I got some shares allocated for foreign Nepali migrants," he said, "Now, my family members in Nepal will also apply for the IPO."
Anil Gupta of Bara also applied for the Nepal Republic Media’s IPO from Bahrain and he has received the IPOs, according to his brother Sunil Gupta, who lives in Bara. "My brother has informed me that he has received an IPO," said Sunil. "Now, three members of our family will apply for the IPO from Nepal."
IPO open to general public from Friday
Nepal Republic Media has announced that the IPO will be opened to the general public from Friday. The company had a total authorized capital of Rs 967.6 million.
In the IPO program, 44.9922 percent of this capital, which is equivalent to Rs 435.3 million, was allocated with the face value of Rs 100 per share in the first phase to Nepalis working abroad and its own employees.
Out of the shares allocated to the general public, 174,120 shares, which makes four percent, have been allocated to the employees and five percent i.e. 217,650 shares to the mutual funds.