Club Chaulani Limited has officially appointed Garima Capital Limited as the issue manager for its upcoming Initial Public Offering (IPO). The formal agreement was signed on Poush 8, 2082 (Tuesday) during a ceremony held at Holiday Inn Resort, Budhanilkantha, Kathmandu. The agreement was signed by Rajendra K.C., Chairman of Club Chaulani Limited, on behalf of the company, and Nirmal Bhattarai, Chief Executive Officer of Garima Capital Limited, representing the merchant banker.
Club Chaulani’s Transition to Public Limited Company
Originally established as a private limited company on Baisakh 25, 2065, Club Chaulani Limited transitioned to a public limited company on Poush 22, 2081. The company aims to establish itself as a model and the first five-star hotel in the Sudurpashchim Province. As part of its IPO, Club Chaulani Limited plans to offer 20% of its issued capital to the general public, creating new investment opportunities in the hospitality sector.
Role of Garima Capital Limited
Garima Capital Limited, a subsidiary of Garima Development Bank Limited and a licensed merchant banker approved by the Securities Board of Nepal (SEBON), will serve as the issue manager for the IPO. The company provides a wide range of financial services including Portfolio Management Services (PMS), Demat and MeroShare account services as a Depository Participant, Mutual Fund Management, Securities Underwriting, Issue Management, Share Registrar services, and Corporate Advisory services.
Commitment to Client-Friendly Services
To ensure smooth delivery of its services, Garima Capital Limited leverages the branch network of Garima Development Bank Limited, facilitating client access across Nepal. The institution has emphasized its commitment to adopting advanced technologies to make its services more refined, customer-friendly, and accessible to all stakeholders.
Strengthening Public Investment in Hospitality
The appointment of Garima Capital as issue manager is expected to streamline the IPO process and attract investors to the region’s first five-star hotel project. By offering a portion of its shares to the public, Club Chaulani Limited aims to enhance transparency, mobilize capital for expansion, and strengthen the local hospitality and tourism sector.
