May 1: The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.

Nabil Securities Limited has been granted the letter of intent to work as a Stock Dealer, while Megha Stock Market Limited has been given the letter of intent to operate as a full-service securities broker in accordance with its application.

Additionally, fourteen other companies have been provided with the letter of intent to operate as limited securities brokers.

The SEBON received a total of 46 applications for new broker licenses, including one from an existing broker company.

According to Mukti Shrestha, the SEBON spokesperson, the process to grant licenses to the remaining companies will continue. Shrestha clarified that the SEBON is currently assessing the documents submitted by the other companies for new broker licenses.

The companies that have received the letter of intent will be granted licenses after they fulfill the necessary procedures.

Himalaya Brokerage Company, CBIL Securities, KBL Securities, NMB Securities, RBB Securities, Sanima Securities, Index Securities, Sun Securities, Capital Max Securities, Bhole Ganesh Securities, Infinity Securities, Aakash Bhairab Securities, Elite Stock House, and SPSS Securities are the fourteen companies that have been granted the letter of intent to work as limited securities brokers.