IPO Proposal of Bandipur Cable Car and Tourism Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Bandipur Cable Car and Tourism Ltd. The approval was issued on 19th Ashadh, 2082.

According to the approved proposal, the company will issue a total of 5,860,000 shares to the general public, which accounts for 20.7067% of its total issued capital. The shares will be offered at a par value of Rs. 100 per unit.

Nepal SBI Merchant Banking has been designated as the issue and sales manager for this public offering.

Bandipur Cable Car is a private limited company, incorporated on January 6, 2013. It is coming up with a cable car and hotel project in Bandipur, Tanahu district of Nepal. The project has two modalities of services to be offered i.e. first transportation from base station to hilltop station and vice-versa through cable car; and second is lodging & hospitability services through Hotel. The project has been listed as a “National Priority Project‟ by National Planning Commission (NPC).