Annapurna Cable Car Company Limited has announced its plan to launch an Initial Public Offering (IPO) worth Rs. 310 million. According to the company, it will issue a total of 3.1 million (31 lakh) shares to the public, each with a face value of Rs. 100.
The IPO aims to raise capital for the expansion and operational development of the Annapurna Cable Car project, which is designed to boost tourism in the Annapurna region. This public offering is expected to attract both institutional and individual investors, especially those with a keen interest in tourism infrastructure development in Nepal.
Officials from the company mentioned that the necessary regulatory processes are being followed and the application for IPO approval has been submitted to the Securities Board of Nepal (SEBON). Once approved, the IPO will be made available to the general public through a public issue, with a portion of the shares also likely to be reserved for mutual funds, company staff, and local residents.
Annapurna Cable Car Company is focused on establishing itself as a key contributor to the tourism and transport sector, especially in the Annapurna region, which is one of Nepal’s most popular trekking and pilgrimage destinations. More details about the IPO timeline, issue manager, and subscription procedures are expected to be published following the regulatory clearance from SEBON.
