IPO Proposal of Hotel Park Land Added to SEBON's Pipeline

The IPO proposal of Hotel Park Land Limited (PARK) has been added to SEBON's pipeline.

Hotel Park Land has submitted a proposal to issue 15 lakhs shares at a par value of Rs. 100 per share. This IPO issue will generate Rs. 15 crore for the company.

Citizens Capital Limited has been appointed the issue manager for this issue.

It is only after the approval from the regulatory board SEBON, the company can float the shares to the local and the general public.

CARE Ratings Nepal Limited (CRNL) has assigned the issuer rating of ‘CARE-NP BB- (Is)’ to Hotel Parkland Limited (HPL). Issuers with this rating are considered to offer moderate risk of default regarding timely servicing of financial obligations, in Nepal.

Hotel Parkland Limited (HPL) was incorporated in 2007, a prominent hospitality company based in Chitwan, Nepal. The company has built an established presence in the mid-scale hotel segment. The hotel operates with 32 rooms along with hall and swimming pool.