Hotel Forest Inn Limited Closing 4,00,000 Units IPO Shares to Foreign Nepalese Immigrants From Today

Hotel Forest Inn Limited is closing the issue of its IPO for foreign Nepalese Immigrants today, the 8th Magh 2082. The issue opened on the 4th Magh, 2082.

The issued capital of the company is Rs. 2 Arba. Of this, 20%, i.e., 40 Lakh unit shares, will be issued to the public. Of this general public issue, 10% of 40,00,000, a total of 4,00,000 unit shares, have been set aside for Nepalese citizens working abroad, and the issue will close from today.

For Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 2,00,000 units.

According to CDSC, 76,678 applicants have applied for a total of 12,08,490 units. Thus, the issue has already been oversubscribed 3.02 times.

NIC Asia Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB-’ to the long-term bank facilities of Hotel Forest Inn Private Limited.

Hotel Forest Inn Private Limited was incorporated on November 22, 2010, and is constructing a hotel in Budhanilkantha, Kathmandu, which spans 142,783 sq ft of land. The hotel will feature a total of 102 room keys and is proposed to be categorized as a 5-star hotel property. The hotel is expected to start operation in October 2023. The hotel has entered into a ‘License Agreement’ with InterContinental Hotels Group (IHG) for the international hotel brand ‘Holiday Inn,’ an American-based mid-scale hotel chain.