Hotel Garima Limited, a Five-Star standard luxury hotel based in Itahari, Koshi Province, has officially announced its plan to go public by launching an Initial Public Offering (IPO). In a significant step toward this objective, the company signed a Roadmap to IPO Service Agreement with NIMB Ace Capital Limited, Kathmandu, initiating its journey to become a publicly listed company on Nepal’s capital market.
The formal agreement was signed today in a ceremony held in Kathmandu, where Mr. Binod Poudel, Managing Director of Hotel Garima Limited, and Mr. Sachindra Dhungana, Deputy Chief Executive Officer of NIMB Ace Capital Limited, jointly endorsed the partnership. This collaboration is set to guide Hotel Garima through the comprehensive process of preparing for a public issue.
NIMB Ace Capital Appointed as Corporate Advisor
As per the agreement, NIMB Ace Capital Limited will act as the Corporate Advisor to Hotel Garima Limited. Their role includes steering the company through every stage of IPO preparation, ensuring that all regulatory requirements of the Securities Board of Nepal (SEBON) are met, enhancing institutional governance practices, and aligning financial and strategic documentation with public market standards.
NIMB Ace Capital is renowned in the Nepali capital market for its robust advisory services in IPO management, compliance, and capital raising strategies. This partnership is expected to ensure a smooth and strategic path to public listing for Hotel Garima Limited.
Statements from Leadership
During the signing ceremony, Mr. Binod Poudel, Managing Director of Hotel Garima Limited, shared his enthusiasm about this milestone. He remarked, “This collaboration with NIMB Ace Capital Limited marks a major turning point in the history of our company. We are proud to take this step forward, not just for our organization but for the tourism sector of Koshi Province. By going public, we aim to enhance transparency, attract investment, and align ourselves with national economic growth goals.”
Mr. Sachindra Dhungana, Deputy CEO of NIMB Ace Capital Limited, expressed his full commitment to the success of this partnership. He stated, “We are pleased to collaborate with Hotel Garima Limited in their IPO journey. Our goal is to ensure that the company is well-prepared from every perspective, financial, legal, and organizational, so they can enter the public market with confidence and clarity. We look forward to a successful listing that sets a benchmark in the hospitality sector.”
Expanding Investment in Nepal’s Hospitality Sector
Hotel Garima Limited is the owner of Soaltee Westend Itahari, a luxury property that represents one of the most prominent hospitality establishments in the eastern part of Nepal. The move toward IPO reflects the company’s long-term vision to expand operations, enhance transparency, and attract domestic and foreign investment in the growing hospitality and tourism industry of Nepal.
Located in Itahari, a strategic business and transit hub in Koshi Province, Hotel Garima’s investment initiative is expected to boost local tourism infrastructure, create employment opportunities, and attract more tourists, especially as eastern Nepal grows in prominence as a tourism destination.
The company’s initiative to enter the capital market also resonates with Nepal’s broader economic development objectives, encouraging private companies in the hospitality industry to embrace public ownership and institutional investment as tools for growth.
A Milestone for Koshi Province’s Tourism Landscape
This IPO journey marks a significant moment not just for Hotel Garima Limited, but for the entire hospitality ecosystem in Koshi Province. The listing of a luxury hotel property on Nepal’s stock exchange is expected to draw attention to the region’s untapped tourism potential, encouraging other private players in the eastern corridor to follow similar paths of transparency and expansion.
With increasing domestic and international tourist interest in eastern Nepal, especially areas surrounding Itahari, Dharan, and Koshi Tappu, the timing for Hotel Garima’s IPO aligns well with growing market opportunities and national tourism promotion strategies.
Looking Ahead
With the roadmap agreement in place, both Hotel Garima Limited and NIMB Ace Capital Limited will begin a series of procedural steps to prepare for the IPO, including internal audits, financial evaluations, corporate restructuring if needed, and submission of necessary documentation to SEBON.
Once approved, the IPO will allow the general public and institutional investors to own shares in one of the eastern region’s premier luxury hospitality ventures. This move is expected to elevate corporate governance standards in the sector and provide an opportunity for investors to participate in the long-term growth of tourism in Nepal.
The successful launch of Hotel Garima Limited’s IPO could serve as an inspirational case for other regional hotels and resorts aiming to enter Nepal’s capital market in the coming years.
