June 19: The Securities Board of Nepal (SEBON) has decided to suspend the issuance process of Ghorahi Cement Ltd's Initial Public Offering (IPO).

This decision was made in response to the discovery of fraudulent applications, which had caused confusion among investors.

SEBON took the decision to this effect on Monday.

Earlier, CDS and Clearing Limited had notified SEBON about the counterfeit applications for Ghorahi Cement Ltd's IPO.