SEBON allows 12 brokers to open branches outside the valley

KATHMANDU: Securities Board of Nepal (SEBON) has allowed 13 broker companies to operate branch offices at 18 locations. In February 2020, the board gave the final approval to the company that did not get the final approval for the operation of the branch office even after getting approval.

In February 2020, the board gave in-principle consent to 12 broker companies to open branches in 23 locations outside the valley. Out of which, 12 companies have received final approval to open branches in 18 locations in the last financial year and the current year, said Rupesh KC, spokesperson of the board. Some companies that got the final approval last year have already started business.

In the last fiscal year, Broker No. 34, Vision Securities Pvt Ltd has establishes Kawasoti in Nawalpur, Beni in Myadi and Damauli in Tanahun into operation. Similarly, Broker No. 49, Online Securities has opened branches at Battar in Nuwakot, Broker No. 38 Dipshikha Securities Trading Company has opened branches in Tandi in Chitwan, Broker No. 14 Nepal Stock House has opened branches in Bidur in Nuwakot and Tikapur in Kailali. Broker No. 38 Dipshikha Securities Trading Company also got the final approval to open a branch in Lamki of Kailali in June 2021, said KC, the spokesperson of the board.

After the start of the current fiscal year, the board has given final approval to broker No. 57 Aryatara Investment and Securities Pvt. Ltd. to establish branch offices at Tanesen in Palpa and Bhairahawa in Rupandehi, broker No. 11 Mall & Mall Stock Broking Pvt.

Similarly, Broker No. 36 Secured Securities has been given permission to open a branch in Jhapa’s Damak, Broker No. 29 Trishul Securities in Kawasoti in Nawalpur, Broker No. 51 Oxford Securities in Bhumhima in Nawalpur and Broker No. 59 Broker Divya Securities and Stock House has been given permission to open a branch in Kusma in Parbat, KC said.

Broker No. 7 JF Securities Pvt Ltd has received final approval to open a branch at Tulsipur in Dang, Broker No. 44 Dynamic Money Managers Securities at Bharatpur in Chitwan.

On February 13, 2020, the outgoing chairman of the board, Bhishmaraj Dhungana, gave in-principle approval to 12 broker companies for the expansion of branch offices in 23 locations. Out of which the board has given final approval for the operation of branch offices in 18 locations of all 7 provinces outside the valley after about 2 years. Rupesh KC, the spokesperson of the board informed that permission will be given soon for the remaining 5 places.

Among the instructions given by the board to build infrastructure by giving theoretical consent, broker number 49 Online Securities is yet to get the final approval to operate branches at Manthali in Ramechhap, Bardibas in Mahottari and Urlabari in Morang.

Also, Broker No. 38 gave the final in-principle approval for the operation of branches at Lahan in Siraha and Charikot in Dolakha of Dipshikha Securities Trading Company. He said that the necessary infrastructure is yet to be prepared in those 5 locations, and the final approval will be given after the infrastructure is ready.