Nepal, Nov. 6 -- A total of 117 companies are awaiting approval from the Securities Board of Nepal (SEBON) to issue initial public offerings (IPOs), with 77 still at the initial application stage, as the regulator introduces a six-stage vetting process to make the approval system more transparent and systematic.

SEBON recently approved IPO applications from two companies-Kantipur Pharmaceuticals Lab Ltd and Ashutosh Energy Ltd-after prolonged delays.

Kantipur Pharmaceuticals received approval on Thursday to issue 1.7 million shares worth Rs170 million at a face value of Rs100 each. The issue represents 21.25 percent of the company's issued capital. It had applied for approval on February 19, 2025. Muktinath Capital Ltd is managing the ...