Bandipur Cablecar & Tourism Company Limited has officially opened the first phase of its Initial Public Offering (IPO) from 6th Shrawan 2081. The company received approval from the Securities Board of Nepal (SEBON) on 19th Asar 2081 to issue a total of 58 lakh 60 thousand ordinary shares at a face value of Rs. 100 per share.
This first phase is reserved exclusively for project-affected local residents and Nepali citizens currently working abroad. A total of 10 lakh 95 thousand shares have been allocated under this phase — 5 lakh 66 thousand shares for locals affected by the project and 5 lakh 29 thousand 400 shares for individuals in foreign employment.
Eligible local applicants include residents of all wards of Bandipur and Aanbukhaireni Rural Municipalities in Tanahun district, Bhanu Municipality–Ward No. 1 (Tanahun), and Palungtar Municipality–Ward No. 7 (Gorkha). Interested applicants can apply for a minimum of 10 shares and up to a maximum of 20,000 shares.
Nepalis working abroad can apply until 9th Shrawan, while project-affected locals have until 20th Shrawan to submit their applications. The application period may be extended if necessary.
The issue has been rated ‘CARE-NP BB’ by CARE Ratings Nepal, indicating a moderate degree of credit risk. Nepal SBI Merchant Banking Limited is managing the IPO issuance. In the next phase, the company plans to open the IPO for general public investors.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
