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Siddhartha International Hotel Limited to Issue IPO

Siddhartha International Hotel Limited to Issue IPO

Siddhartha International Hotel Limited, operating under the well-known Siddhartha Hospitality brand, is preparing to launch its initial public offering (IPO). The company has selected Muktinath Capital to oversee the issuance and sales of the IPO.

As a subsidiary of Siddhartha Group, Siddhartha International Hotel Limited manages the four-star Siddhartha Boutique Hotel in Boudha and the five-star Siddhartha Vilasa in Bhairahawa, Rupandehi. The agreement for this initiative was signed on Tuesday morning by Chintamani (Laxman) Neupane, Chairman of Siddhartha Business Group of Hospitality, and Mr. Kabindra Dhoj Joshi, CEO of Muktinath Capital.

Chairman Neupane announced that the IPO will be launched within the current fiscal year, intending to offer 10% of the total issued capital to the public.

Siddhartha Hospitality, under which these operations fall, encompasses luxurious accommodations such as the five-star Siddhartha Vilasa, the four-star Siddhartha Vaibhav, and the three-star Siddhartha Batika, along with various ancillary services including hospitality education, restaurants, cottages, cafes, agricultural farms, trading, IT, and more than twenty other enterprises.

Muktinath Capital, a subsidiary of Muktinath Bikas Bank, is a prominent merchant banking firm specializing in investment management services, share registrar services, securities issuance and sales management, share underwriting, and institutional advisory services, boasting a team of experienced professionals. CEO Joshi of Muktinath Capital also mentioned plans for launching a mutual fund in the near future.

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