Orbit Energy Limited Prepares for IPO Launch and Key AGM Amid Regulatory Review
Orbit Energy Limited is set to hold its second Annual General Meeting on Bhadra 13, to approve critical corporate decisions, including share issuance and financial audits.
ShareSanskar | Shrawan 22, 2082
Orbit Energy Limited is on the verge of a major corporate milestone as it awaits approval from the Nepal Securities Board for its upcoming Initial Public Offering (IPO). The company has also scheduled its second Annual General Meeting (AGM) for Bhadra 13 at its registered office in Hadigaun, Kathmandu, following a board decision made on Shrawan 20. This meeting is set to address key decisions that will define the company’s governance and strategic path forward.
The AGM agenda includes important proposals such as issuing shares to the general public and institutional investors, amending the company’s memorandum and articles of association, and granting the board of directors full authority to implement directives from regulatory bodies. Additionally, the meeting will review and approve the company’s audited financial statements, including the balance sheet, profit and loss accounts, and cash flow statements, along with the appointment and remuneration of auditors for the current fiscal year.
Orbit Energy submitted its IPO application to the Nepal Securities Board on Baisakh 22, seeking permission to issue 50 lakh ordinary shares at a face value of NPR 100 each, aiming to raise NPR 500 million. This IPO represents a significant step in the company’s growth strategy, allowing it to mobilize fresh capital and expand its presence in Nepal’s energy sector. As the company moves closer to entering the public market, these developments reflect Orbit Energy’s strong commitment to transparency, regulatory compliance, and sustainable growth, signaling an important moment for both the company and Nepal’s evolving capital market landscape.