Securities Board of Nepal (SEBON) has given permission to open 20 branches of stock brokers at once to facilitate share trading.
According to the ‘Guidelines for Opening Branches by Securities Brokers, 2079 BS’, 11 broker companies have been allowed to expand branches in different districts. After the release of the guidelines, the companies had requested permission to open a branch.
According to SEBON, a company is allowed to open a maximum of 6 branches. Bhrikuti Stock Broking Company has got permission to open branches in maximum six locations. It has got permission to open branches at Birgunj in Parsa, Dhulikhel in Kavre, Birendranagar in Surkhet, Bardibas in Mahottari, Beni in Myagdi and Charikot in Dolakha.
Similarly, Vision Securities Pvt Ltd has received permission to open branches at Chandrauta in Kapilvastu, Ilam Bazar in Ilam and Tikapur in Kailali. Likewise, Niv Securities Pvt Ltd got permission to open branches in Hariwan in Sarlahi and Attaria in Kailali while Sundhara Securities Pvt Ltd in Simra in Bara and Parsa in Chitwan.
The Board has also allowed Imperial Securities to open a branch in Dhading Besi in Dhading, Thrive Broker in Damauli in Tanahun, Creative Securities in Tansen in Palpa, Ashutosh Securities in Mirchaiya in Siraha, Kalika Securities in Bardibas in Mahottari, Trishakti Securities in Mahendranagar in Kanchanpur, Midas Stock in Gorkha Bazar in Gorkha.
Earlier, the Board had provided in the guidelines that a branch can be opened after adding Rs 15 million to the minimum paid-up capital. In the past, it took a long time to open a broker’s branch.
The SEBON said it has started giving permission stock brokers to operate the branch office within 15 days based on the application given by the broker companies.
