SEBON Adds IPO Share of Orchid Holdings Ltd. in its Pipeline

Sun, Dec 3, 2023 1:04 PM on Latest, IPO/FPO News,

The Initial Public Offering (IPO) of Orchid Holdings Ltd. has been added to SEBON’s IPO pipeline for approval.

Orchid Holdings Ltd. has submitted a proposal to the capital market regulator to issue 11,500,000 shares. This will raise Rs. 1.15 Arba for the company. The application was submitted on Mangsir 13, 2080.

Laxmi Capital Market Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP B+ (Is)’ to Orchid Holdings Limited (OHL). Issuers with this rating are considered to offer high risk of default regarding timely servicing of financial obligations, in Nepal.

Orchid Holdings Limited is operating a four-star hotel situated in Kathmandu, Nepal. Initially established as a private limited company on November 13, 2007, under the Company Act, of 2063, it was subsequently transformed into a public limited company on July 11, 2022. The hotel covers an area of 9,136 square meters and offers a total of 131 rooms. It operates under the name 'Hotel Crowne Imperial' in Ward No-14, Ravi Bhawan, Kathmandu, Nepal.