The group including Shanker Group applied for new stock exchange

Himalayan Stock Exchange Company has applied for a new stock exchange in the Securities Board of Nepal (SEBON). The company applied for new stock on Friday after the Supreme Court scrapped a writ petition and the board proceeded with the process.

An established group of former presidents of Federation of Nepalese Chambers of Commerce & Industry (FNCCI) , including Shanker Lal Agrawal, Chairman of Shanker Group has invested in the Himalayan Stock Exchange.

The Securities Board has called for applications for one new stock and two commodity regulation markets. Sunday is the application deadline for stock and commodity exchange markets.

Among the main investors in Himalayan stock are Shankar Group’s Agarwal, Former presidents of Federation of Nepalese Chambers of Commerce & Industry (FNCCI) Shekhar Golcha, Pashupati Murarka, Chairman of the Khetan Group Rajendra Kumar Khetan, Lucky Group Businessman Deepak Bhatta, Mitsubishi Motors’ Ashish Shrestha, Jyoti Group’s Shaurabh Jyoti, Juni Gurung, Vivek Dugad, Amit Moral including others.

After the Supreme Court cleared the way to open the stock, the board had asked for applications. The Board asked for re-application for the license of Stock Exchange and Commodity Exchange, which was suspended by the Supreme Court’s short-term interim order.

On 18 September , 2022, the Securities Board of Nepal (SEBON) had called for applications for establishing new stock exchanges, commodity exchanges and stock brokers. On 17 October , 2022 Advocate Deepak Vikram Mishra filed a petition in the Supreme Court demanding to stop the process of granting licenses.