Paper Commitments and Practical Sluggishness: No Company Received IPO Approval by Ashoj 15

Dr. Gopal Bhatta, Chairman of the Nepal Securities Board (SEBON), had assured at an event on Bhadra 21 that some companies would receive IPO approval before Ashoj 15. He claimed that since he had assumed office only a few days before the start of the new fiscal year, there had been some delay in IPO approvals, but now approvals would happen rapidly.

However, the time before Ashoj 15 that he mentioned has ended. Today is Ashoj 15. According to Chairman Bhatta, at least 3/4 companies should have received IPO approval by now. But even as three months of the current fiscal year are about to end, no company's IPO has been approved by SEBON so far.

After Baisakh 2 of the new year 2083 BS, no company has received approval to issue an IPO. The then Chairman of the Board, Santosh Narayan Shrestha, before resigning from his post, had granted approval to three companies to issue IPOs on Baisakh 2. Since then, no company has been allowed to issue an IPO.

Chairman Bhatta, who has been making tall claims about working according to a schedule, is failing to keep his word. Despite claiming that he came for capital reform, he has failed to deliver on his promises regarding IPO approvals.

Investors say that those in leadership should speak about what they can do rather than boast about giving claps without necessary preparations.