IPO for project-affected locals: Chandragiri Hills Limited issuing 3,06,819 units IPO shares from Mangsir 17

Wed, Nov 25, 2020 10:36 AM on IPO/FPO News, Latest,

Chandragiri Hills Limited is issuing its 3,06,819 units IPO shares to the project-affected locals of Chandragiri Nagarpalika of Kathmandu District and Thaha Nagarpalika of Makwanpur District from Mangsir 17, 2077.

The IPO issue for locals is open from Mangsir 17- Poush 1. If unsubscribed, the issue can be extended to Poush 16, 2077. The interested locals can place their applications for a minimum of 10 units and a maximum of 3,060 units.

Global IME Capital Limited has been appointed as the issue manager for the proposed IPO issuance. 

The company is proposing to come out with an IPO of 18,40,910 equity shares with a face value NPR 100 each, at par. The amount of the issue is Rs.18.40 crore.

Out of the total proposed IPO shares, 3,06,819 units, i.e. 2% of the total paid-up capital and 15,34,091 units i.e. 10% of the total paid-up capital will be issued to the project affected local people and for the general public respectively. Remaining 88% of shares are held with the major promoters of the company i.e. 1.35 crore units. The final paid-up capital post IPO issue would be Rs 1.534 arba of the company.

Earlier, the 9th AGM of the company held on 14th January 2019 had endorsed to issue IPO of 10% of paid-up capital of worth Rs 15 crore to the general public.

Chandragiri Hills is seven kilometres from Thankot and lies on the south-west side of Kathmandu Valley which is 2551 metres above sea level. The hill provides panoramic views of Kathmandu Valley and the Himalayan ranges from Annapurna to Everest. The soft opening of Chandragiri Hills Ltd was held on 8th August 2016. Over the years, Chandragiri hills has been seen as one of the most sought after gateway for the people of Kathmandu Valley and around. It has also been felicitated with most influential tourist spot of the country.

The major promoters of the company are Mr. Chandra Prasad Dhakal, Mr. Hem Raj Dhakal, Mr. Ambika Prasad Paudel, Mr. Nawaraj Nepal and Mr. Kalyan Gurung.

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