KATHMANDU: Securities Board of Nepal (SEBON) has granted permission to 24 companies to issue and sell initial public offerings (IPOs).

The approvals were issued by the board by mid-April of current fiscal year.

According to the board, permission has been granted to sell a total of 91,187,946 ordinary shares.

The total value of these shares stands at Rs 9.118 billion.

Among the approved companies, 15 are hydropower projects. There are currently 103 hydropower companies listed and actively traded on the Nepal Stock Exchange.

Hydropower companies also dominate both approved and pending IPO applications.

Among the approved firms, seven belong to the production and processing sector.

One development bank and one company each from the hotel and tourism sector have also received approval.

In total, 98 companies have applied for permission to issue IPOs.

These include 18 from the hotel and tourism sector, 32 hydropower companies, and five investment companies.

Similarly, 26 are from production and processing, three from micro-insurance, and 14 from other categories.