Biratnagar Jute Mills Ltd. and Nepal Bank Ltd. floated shares in 1937, marking the beginning of the securities market. Other notable developments in capital markets include the introduction of the Company Act in 1964, the first issuing of Government Bonds in 1964, and the formation of Securities Exchange Center Ltd. in 1976.
The Securities Exchange Center was founded with the goal of enabling and supporting capital market expansion. It was the only capital markets institution doing brokering, underwriting, managing public issues, market making for government bonds, and other financial services prior to its conversion to a stock exchange. In 1993, the Nepal government turned Securities Exchange Center into Nepal Stock Exchange as part of a campaign to reform capital markets.
Total Market Capitalization is currently Rs. 413,928 crore (US$36 billion).