Nepal follows the Bikram Sambat (BS) calendar for all official purposes, including financial reporting, tax deadlines, and corporate events. The Nepali fiscal year runs from 1 Shrawan to 31 Ashadh (approximately mid-July to mid-July in the Gregorian calendar), which is different from the January-December calendar used in most countries.
For investors, knowing the key dates in Nepal's financial calendar is essential — miss a rights issue deadline by one day and you lose your entitlement entirely.
Understanding Nepal's Two Calendar Systems
Bikram Sambat (BS) is Nepal's official calendar. It is approximately 56 years and 8-9 months ahead of the Gregorian calendar. So the year 2083 BS corresponds roughly to 2026-2027 AD. Nepali months have 29-32 days (not a fixed 30 or 31), making manual conversion tricky.
Gregorian Calendar (AD) is used internationally and by most digital tools, apps, and international businesses.
All SEBON notices, company AGM announcements, IPO dates, book closure dates, and tax deadlines are published in BS dates. If you use a standard phone calendar or planner, you need to convert these dates to AD to set proper reminders.
The Nepali Financial Year
Nepal's fiscal year starts on 1 Shrawan and ends on 31 Ashadh:
| Nepali Month | Approximate AD Period | Key Financial Activity |
|---|---|---|
| Shrawan (1st month) | Mid-Jul to Mid-Aug | New fiscal year begins, quarterly planning |
| Bhadra | Mid-Aug to Mid-Sep | First quarter corporate activities begin |
| Ashwin | Mid-Sep to Mid-Oct | Dashain/Tihar season, market often volatile |
| Kartik | Mid-Oct to Mid-Nov | Post-festival trading, Q1 results start appearing |
| Mangsir | Mid-Nov to Mid-Dec | AGM season for many companies begins |
| Poush | Mid-Dec to Mid-Jan | AGM season continues, dividend announcements |
| Magh | Mid-Jan to Mid-Feb | Mid-year point, NRB mid-term monetary review |
| Falgun | Mid-Feb to Mid-Mar | Second half corporate activity picks up |
| Chaitra | Mid-Mar to Mid-Apr | Q3 results published, rights/bonus announcements |
| Baishakh | Mid-Apr to Mid-May | Final quarter begins, tax planning |
| Jestha | Mid-May to Mid-Jun | Government budget presentation, fiscal year-end prep |
| Ashadh (12th month) | Mid-Jun to Mid-Jul | Fiscal year end, tax filing deadline, books closing |
Key Recurring Events for Investors
AGM Season (Mangsir - Falgun / November - March)
Most NEPSE-listed companies hold their Annual General Meetings between Mangsir and Falgun. At AGMs, companies:
- Present annual financial reports
- Declare dividends (cash and/or bonus shares)
- Announce rights share issues
- Elect board members
For investors, AGM dates matter because:
- You must hold shares before the "book closure date" to receive dividends
- The share price typically rises in the weeks before an AGM (anticipation of dividend)
- After dividend ex-date, prices adjust downward
IPO Windows
While IPOs can open any time during the year, there tend to be more IPOs during:
- Post-Dashain period (Kartik-Mangsir): Market sentiment is usually positive
- Late Falgun to Chaitra: Before fiscal year-end, companies rush to complete offerings
Pay attention to SEBON's "approved" list to know which companies have approval and may open soon.
NRB Monetary Policy Announcements
Nepal Rastra Bank publishes its monetary policy twice:
- Full monetary policy: Around Shrawan (start of fiscal year). This is the major one — sets credit growth targets, interest rate corridor, CCD ratios, and sector lending requirements.
- Mid-term review: Around Magh (mid-year). Adjusts targets based on first-half performance.
These announcements have immediate effects on banking stocks and overall market liquidity. Mark these dates on your calendar and avoid making large trades until you have read the policy.
Government Budget Announcement
The Finance Minister presents the annual budget in Jestha (May-June). This affects:
- Tax rates on stock market gains
- Infrastructure spending (impacts hydropower, construction sectors)
- Import duties (impacts manufacturing, gold pricing)
- Financial sector policies
The budget speech itself often causes same-day volatility on NEPSE.
Tax Filing Deadlines
For individual investors:
- Capital gains tax is deducted at source by the broker (5% on short-term gains, 7.5% on gains exceeding NPR 2,50,000 threshold)
- Annual tax filing deadline is within 3 months of fiscal year end (by Ashwin for income from the previous Shrawan-Ashadh year)
- Dividend TDS (5%) is deducted automatically by the company
NEPSE Trading Holidays
NEPSE is closed on:
- Saturdays (weekly holiday along with Friday being a half-day for government offices)
- Major national festivals (Dashain: 5-7 days, Tihar: 3-4 days, Chhath, Holi, etc.)
- Special government-declared holidays
The NEPSE website publishes the annual trading holiday calendar at the start of each fiscal year. During Dashain and Tihar (Ashwin-Kartik), the market can be closed for 7-10 consecutive days, which sometimes leads to selling pressure before the break and buying after.
Book Closure Dates
Book closure is when a company freezes its shareholder registry to determine who receives dividends and bonus shares. If you buy shares after the book closure date, you will NOT receive the declared dividend — the previous owner gets it.
Important points:
- Companies announce book closure dates through NEPSE notices
- You must hold shares at least T+2 days before book closure (because settlement takes 2 business days)
- After book closure, the share price adjusts downward by the dividend amount (this is called the ex-dividend adjustment)
Example: A company declares 20% cash dividend with book closure on 15 Mangsir. You must have settled shares in your DMAT by 13 Mangsir (buying no later than 11 Mangsir due to T+2).
Rights Share Application Deadlines
When a company issues rights shares, existing shareholders get a window (usually 15-35 days) to apply. Key dates:
- Rights issue open date: When you can start applying
- Rights issue close date: Last day to apply (miss this and you forfeit your right)
- Renunciation deadline: If you do not want to use your rights, you can sell them to others before this date
These dates are always in BS and are announced through NEPSE and the issue manager. Missing a rights issue deadline means you lose the discounted shares AND your ownership percentage gets diluted.
Practical Tips for Calendar Management
- Convert all BS dates to AD immediately when you see an announcement, and add them to your phone calendar with a reminder 2-3 days before
- Track book closure dates for all companies you hold — set alerts for T+3 days before closure
- Note NRB policy dates each fiscal year and avoid large position changes just before
- Monitor the SEBON approved list monthly to catch upcoming IPOs early
- Set quarterly review dates to check your portfolio against newly published financial results
Summary
Nepal's financial calendar revolves around the BS fiscal year (Shrawan to Ashadh), with AGM season clustering in the winter months, NRB monetary policy setting the tone in Shrawan, and the government budget in Jestha creating sector-specific movements. For investors, the critical dates are book closure deadlines, rights issue windows, and regulatory announcements — all published in BS dates. Converting these to your everyday calendar and setting proper reminders is a basic but essential habit for anyone investing on NEPSE.