SEBON Gives Final Approval for IPO Issue of Chandragiri Hills Limited; Company to Issue Rs 18.40 Crore IPO Soon

Thu, Nov 19, 2020 7:50 PM on IPO/FPO News, Stock Market, Latest,

Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO of Chandragiri Hills Limited. 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.

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

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% shares are held with the major promoters of the company i.e. 1.35 crore units. The final paid up capita,l post IPO issue would be Rs 1.534 arba of the company.

Earlier, the 9th AGM of the company held on 14th Jaunary, 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.