SEBON Unveils New IPO Financial Review Standards, Plans Primary Market White Paper

The Securities Board of Nepal (SEBON) has introduced stakeholders to its new Financial Review Standards for Initial Public Offerings (IPOs), 2082, as part of efforts to make the public issuance process more responsible, transparent, and high-quality. The board organized an orientation and interaction program for chief executive officers and senior officials of merchant banking institutions at its headquarters, with around 65 participants, including SEBON officials and representatives from merchant banks. The standards, which came into effect on Baisakh 1, 2083 (mid-April 2026), are aimed at improving the quality, reliability, and corporate governance of financial statements submitted by companies seeking to go public. Addressing the program, SEBON Chairman Dr. Gopal Prasad Bhatta said the regulator is continuing policy reforms to build a more organized, transparent, and investor-friendly primary capital market. He announced that SEBON is preparing to publish a Primary Market White Paper, which will focus on protecting investors' interests and driving the qualitative transformation of Nepal's primary securities market. The chairman also urged merchant bankers to play a more responsible role in safeguarding investors and maintaining market integrity. During the event, ICAN President and SEBON Board Member Anand Raj Sharma Wagle presented the technical aspects of the new standards, explaining that the framework would significantly enhance the credibility of financial disclosures submitted during the IPO process and strengthen institutional governance among issuing companies.