Hotel Forest Inn Limited has announced that it will issue its Initial Public Offering (IPO) starting from Magh 4 (B.S.), with the first phase specifically allocated for Nepali citizens working abroad. The company received approval from the Nepal Securities Board on Poush 20 (B.S.) to issue 40 lakh ordinary shares at a face value of Rs 100 per share, totaling Rs 40 crore. Of the total shares, 10% or 4 lakh units have been reserved for Nepalis working overseas. Eligible applicants can apply for a minimum of 10 shares and a maximum of 2 lakh shares.
The IPO will remain open for subscription as early as Magh 8 (B.S.) and as late as Magh 18 (B.S.), depending on demand. Applications can be submitted through all ASBA-approved banks and financial institutions recognized by the Securities Board, their designated branch offices, and the ‘Mero Share’ online platform. NIC Asia Capital Limited has been appointed as the IPO’s issue and sales manager. Following the completion of this first phase for Nepalis working abroad, the company plans to launch a second phase IPO for the general public.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
