SEBON Forms High-Level Task Force to Reform Nepal's Primary Market

The Securities Board of Nepal (SEBON) has established a seven-member Primary Market Reform Facilitation Task Force to enhance the transparency, credibility, and investor-friendliness of Nepal's primary capital market. Led by SEBON Executive Director Binay Dev Acharya, the task force comprises representatives from SEBON, the Nepal Stock Exchange (NEPSE), the Merchant Bankers Association of Nepal, and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). Formed under the Regulatory Reform Agenda of the Capital Market Policy for FY 2083/84, the task force has already held its first meeting to discuss key areas for reform. Its mandate includes reviewing public issue and book-building processes, IPO allocation and digital IPO systems, IPO eligibility and pricing mechanisms, the role and due diligence of merchant bankers, institutional and anchor investors, and post-issue monitoring. The task force may also invite experts from organizations such as the Institute of Chartered Accountants of Nepal (ICAN), the Electricity Regulatory Commission (ERC), the Independent Power Producers' Association of Nepal (IPPAN), the Stock Brokers Association of Nepal (SBAN), and CDS and Clearing Limited (CDSC) to support its work. The initiative is expected to address policy and procedural challenges in the primary market while strengthening investor confidence in Nepal's capital market.