Doleshwor Village Resort and Farm House Limited is ready to raise Rs 16.20 crore from an initial public offering (IPO) as the Bhaktapur company is set to expand the resort and transform it into a four-star facility. The company will offer 1.62 million ordinary shares at a face value of Rs 100 each, representing 30 percent of the issued capital, as it has filed the proposal with the Securities Board of Nepal (SEBON) and added to its IPO pipeline while Citizens Capital Limited has been appointed the issue manager for the proposed public offering.
The IPO will be part of the overall strategy of the company as it looks to expand Doleshwor Village Resort into a larger hospitality and tourism destination by increasing the capacity, while adding recreational and wellness facilities and catering to a broader range of customers including leisure travelers, corporate groups, events and other tourism-related segments.
IPO Funds Expansion and Upgrade to Four-Star
The Doleshwor Village Resort intends to use the proceeds from the public offering to finance the business expansion and upgrade the resort to a four-star facility. According to CARE Ratings Nepal, currently, the Doleshwor Village Resort has 15 rooms, and the management has initiated an expansion plan to increase the accommodation to 40 rooms as well develop a swimming pool, spa and other recreational facilities at a projected cost of around Rs 150 million, which will be funded through a combination of 80 percent equity and 20 percent debt.
As part of the development plan, the Doleshwor Village Resort will add a jacuzzi, seminar and conference halls, children’s play area and additional recreational and relaxation facilities while the management has also outlined plans to develop nature-based accommodation and tourism packages that could connect the resort with religious and cultural tourism sites in Bhaktapur.
The proposed expansion will enable the resort to cater to a larger customer base as it will be able to accommodate more guests, host weddings, seminars, meetings and other corporate and private events, and offer a range of recreational and wellness facilities including a swimming pool and jacuzzi.
The addition of new accommodation units and recreational facilities will provide the company with an opportunity to diversify its offerings away from its current focus on accommodation and event management, while also create an avenue to host seminars, conferences, weddings and other functions. The company will be able to generate revenue from multiple streams as it expands its operations and increase the capacity of the resort.
Doleshwor Village Resort Positioned for Growth
Doleshwor Village Resort is a hospitality business located in Sipadol, Suryabinayak Municipality-8, Bhaktapur on an approximately 10-ropani plot and around 200 metres away from the famous Doleshwor Mahadev temple. The company has an advantage of being in close proximity to the Doleshwor Mahadev Temple, which attracts religious visitors, while also being in Bhaktapur, which has a number of cultural and historical tourism assets, both of which could be a potential source of customers for the resort.
Moreover, the Doleshwor Village Resort is conveniently located from Kathmandu as well, which makes it ideal for short breaks, weekends and for catering to meetings, conferences, weddings and other events. The company has already been used to host weddings, seminars, meetings, picnics and other events, providing the management with an opportunity to build on its MICE and events portfolio in addition to its core accommodation business.
In addition, the proximity to religious and cultural tourism destinations could enable the company to develop its own tourism packages that combine accommodation with visiting these destinations. With plans to add more rooms and develop other recreational and wellness facilities, the company is seeking to build on its current position to emerge as a major player in the hospitality industry in Kathmandu Valley.
IPO Readies Doleshwor Village Resort for Transformation
Doleshwor Village Resort has embarked on its journey towards the capital market as it has converted from a private limited company to a public limited company in June 2025. Earlier, the company had signed the advisory agreement with Citizens Capital to facilitate the conversion and IPO process.
Subsequently, the company approved the proposed public offering of 30 percent of the issued capital and in March 2026 special general meeting of the company gave its approval to the plan for issuing 16.20 lakh shares at Rs 100 per share to raise Rs 16.20 crore. Finally, SEBON added the proposal of the company to the IPO pipeline, which indicates that the proposal has been received by the regulator but it has not yet approved the public offering. Thus, if approved by the regulator and subscribed fully at the face value, the IPO will raise Rs 16.20 crore for the company.
Hospitality Business Poised for Expansion
The expansion of the resort comes at a time when the hospitality sector in Nepal is witnessing increased interest as the tourism industry is set to grow. Doleshwor Village Resort is looking to leverage its location advantage near Kathmandu and Bhaktapur’s religious and cultural destinations while adding more accommodation, leisure, wellness and event facilities to cater to a range of customers. Many hospitality businesses are looking to benefit from the revival of tourism as Nepal’s religious and cultural tourism destinations continue to draw domestic and international visitors, which has created opportunities for hotels, resorts, restaurants and other related businesses.
CARE Ratings Nepal has cited the company’s location advantage, the experience of the directors and the overall outlook for Nepal’s tourism industry as key positives for the company, while also highlighting the risks, such as the execution risk, competition, occupancy and the ability to achieve the projected room rates. The ratings agency has assigned a CARE-NP B+ issuer rating to the company, which implies that there is a high risk of default on financial obligations.
In this context, the proposed public offering will give the company the opportunity to raise capital from the public market, which will be used to fund the transformation of the resort into a full-fledged hospitality business. Thus, with an increase in accommodation units and addition of recreational, leisure, wellness and event facilities, the company will be able to emerge as a comprehensive tourism destination in Bhaktapur. If approved by SEBON, the IPO will provide investors with the opportunity to invest in a hospitality business, which is looking to transform itself into a full-fledged tourism destination catering to religious tourism, cultural tourism, leisure travel, corporate events and MICE tourism in Kathmandu Valley.
