Hotel Forest Inn Limited Issuing IPO Shares to Nepalese Employed Abroad From Magh 04

Hotel Forest Inn Limited has issued an offer letter for Nepalese citizens working abroad to participate in an IPO. The IPO issue for Nepalese citizens working abroad, the issue will open from 4th Magh, 2082, to 8th Magh, 2082, and may be extended till Magh 18 if undersubscribed.

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 for this category will open on the date mentioned above.

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

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 is spread over 1,42,783 Sq ft. of land with 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 of ‘Holiday Inn,’ which is an American-based mid-scale hotel chain.

Offer Letter: