To involve the local community and Non-Resident Nepalis (NRNs) in national infrastructure development, Bandipur Cable Car and Tourism Limited (BCTL) has announced the issuance of its Initial Public Offering (IPO). The company has published an offer letter to issue shares to project-affected locals of Tanahu and Gorkha districts and to Nepalese citizens working abroad.
IPO Allocation Details for Locals and NRNs
According to the published notice, BCTL will issue 5,66,000 units of IPO shares to project-affected locals and 5,29,400 units of shares to Nepalese citizens working abroad. These shares form part of the company’s broader plan to offer public ownership in its flagship tourism infrastructure project based in Bandipur, a historic hilltop town in Tanahun District.
The IPO issue for locals in Tanahu and Gorkha districts will open on 6th Shrawan 2082 and remain open until 20th Shrawan 2082. If the issue is not fully subscribed by this date, the deadline may be extended to Bhadra 4, 2082. Similarly, the issue for Nepali citizens working abroad will open on 6th Shrawan and close on 9th Shrawan 2082, with a possible extension until Bhadra 20, 2082, depending on subscription status.
Share Structure and Public Offering Plan
The total issued capital of Bandipur Cable Car and Tourism Limited stands at Rs. 2.83 Arba. Out of this, 20.7067%, equating to 58,60,000 units of shares, has been set aside for public issuance.
From this total public allocation:
- 2%, or 5,66,000 unit shares, are earmarked for project-affected locals in Tanahu and Gorkha.
- The remaining 18.7067%, or 52,94,000 unit shares, will be offered to the general public in a later phase.
- Within the general public allocation, 10%, amounting to 5,29,400 unit shares, is reserved for Nepalese citizens working abroad.
Both categories, locals and NRNs, must apply for a minimum of 10 units and can apply for up to 20,000 units per person.
Issue Management and Rating
Nepal SBI Merchant Banking Limited has been appointed as the issue manager for this IPO. Interested applicants can apply through various financial platforms and applications connected to the CDSC system as per standard procedures for IPOs in Nepal.
On the financial risk and stability front, CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ to BCTL. This rating indicates a moderate risk of default regarding the timely servicing of financial obligations in Nepal. In addition, CRNL has also reaffirmed the ‘CARE-NP BB’ rating for BCTL’s long-term bank facilities, further reflecting the company’s current financial stance and outlook.
Company Overview and Project Scope
Bandipur Cable Car and Tourism Limited, established on January 6, 2013, is a private limited company engaged in the tourism and infrastructure sector. The company is developing an integrated cable car and hospitality project in the picturesque town of Bandipur, an emerging tourist destination known for its preserved culture, scenic views, and tranquil ambiance.
The project features two primary services:
- Cable Car Transportation – This includes a modern cable car system connecting a base station to a hilltop station, enabling visitors to bypass the steep terrain and reach Bandipur comfortably.
- Lodging and Hospitality Services – Complementing the transport infrastructure, the company will operate a hotel at the hilltop station, offering accommodations, food, and leisure services to domestic and international tourists.
The holistic nature of this project is expected to significantly boost tourism in the region and offer alternative income streams for the local population.
National Recognition and Strategic Importance
The National Planning Commission (NPC) of Nepal has included the Bandipur Cable Car Project in its list of “National Priority Projects”. This classification indicates strong governmental backing and strategic relevance, given the project’s potential to attract tourists and contribute to the regional economy.
By offering ownership stakes to project-affected locals and the Nepali diaspora, BCTL aims to create a sense of shared investment in the country’s tourism future. The IPO not only raises capital but also ensures wider participation in national development initiatives.
The announcement of the IPO issuance by Bandipur Cable Car and Tourism Limited marks a critical milestone in integrating local and foreign Nepali stakeholders in tourism infrastructure projects. With the dual aim of economic growth and inclusive development, this move is expected to benefit both the company and the broader community.
As the project nears completion, all eyes are on how the public responds to this investment opportunity and how the Bandipur region evolves into a sustainable, community-driven tourism hub in the coming years.
