KATHMANDU – Investors have raised concerns over shares not being credited to their accounts for months even after allotment. The latest example is the Further Public Offering (FPO) of Himalayan Bank, which remains unlisted nearly a month after distribution.

The FPO allotment took place on July 28, 2025 (Shrawan 13, 2082 BS), with 1,704,273 investors receiving shares. By Friday, it will have been a month since the allotment, but many investors report that the shares are yet to appear in their Demat accounts, prompting widespread complaints on social media.

Sunil Gorkhali, Information Officer at Himalayan Bank, stated that the process is ongoing and that the shares would be credited by Sunday. However, he did not disclose the reason for the delay. Such delays, however, are not new in Nepal’s stock market.

For example, the IPO of Himstar Energy, allotted on July 16 (Asadh 32), remained unlisted for over a month. On August 17 (Bhadra 2), CDS & Clearing Company issued a notice saying that technical errors had resulted in the shares being frozen. Even now, Himstar’s IPO has not yet been listed for trading.

Similarly, the IPO of Vikas Hydropower, allotted on July 13 (Asadh 29), was only listed on August 11 (Shrawan 27). The IPO of Trade Tower, allotted on May 15 (Asadh 1), was listed only on June 14 (Asadh 31). Likewise, the IPO of Sanvi Energy, allotted on June 6 (Jestha 23), was listed on July 16 (Shrawan 1).

Despite recurring delays, Nepal Stock Exchange (NEPSE) spokesperson Murahari Parajuli said there is no legal provision to penalize companies or issue managers if shares are not credited or listed within a month. “Ideally, shares should be listed within one month of allotment,” he noted. “But since there is no binding legal provision, delays continue.”