IPO Proposal of Hotel Forest Inn Approved By SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Hotel Forest Inn Limited.

According to the approved proposal, the company will issue a total of 40 lakh unit shares to the general public. The shares will be offered at a par value of Rs. 100 per 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 from October 2023. The hotel has entered into ‘License Agreement’ with Intercontinental Hotels Group (IHG) for the international hotel brand of ‘Holiday Inn’ which is an American based mid-scale hotel chain.