Hotel Forest Inn Limited has received approval from the Securities Board of Nepal (SEBON) to issue an initial public offering (IPO) worth Rs. 40 crore. Following the approval, the company will issue a total of 40 lakh ordinary shares to the general public at a face value of Rs. 100 per share.
The company had submitted its IPO application to SEBON on Kartik 15, 2080. The approval was granted after a period of more than two years from the date of application.
Hotel Forest Inn has investment involvement from former Minister for Energy, Water Resources and Irrigation, Dipak Khadka. The company has appointed NIC Asia Capital Limited as the issue and sales manager for the IPO.
With the regulatory approval now secured, the company is expected to proceed with the public issuance process in the coming days.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
