Prabhu Cable Car & Tourism Limited, a tourism-focused infrastructure company established under the investment of Prabhu Group, has successfully conducted its Annual General Meeting (AGM) for the fiscal year 2081/82 (2024/25). The meeting approved several key proposals aimed at strengthening the company’s financial foundation and accelerating tourism infrastructure development across Nepal.
The company secretary informed that all the presented agendas were unanimously passed by shareholders, marking a significant milestone in the company’s journey towards becoming a publicly listed entity.
Strong Institutional Backing
Prabhu Cable Car & Tourism Limited is backed by major institutional investors under the Prabhu Group umbrella. Key investors include Prabhu Energy Agriculture Tourism Development Limited, Prabhu Holdings & Hydro Development Company Limited, Hydro Holdings Limited, and other institutional entities. Their collective investment reflects strong confidence in the company’s long-term vision to promote tourism through modern cable car infrastructure.
With the AGM’s approval of the Initial Public Offering (IPO) proposal, the company is now set to formally apply to the Securities Board of Nepal (SEBON) for public share issuance, opening the door for the general public to participate in its growth.
IPO Process Set in Motion
Kumari Capital Limited has already been appointed as the Issue and Sales Manager for the IPO. In addition, Prabhu Cable Car & Tourism Limited has signed a credit rating agreement with CARE Ratings Nepal Limited for IPO issuance.
With these arrangements in place and the AGM’s formal approval, the company has now cleared all procedural pathways to move forward with its IPO application to the regulatory authority.
Expanding Cable Car Projects
Prabhu Cable Car & Tourism Limited has been actively investing in cable car infrastructure as a means to enhance accessibility to religious and tourist destinations. Among its flagship projects is the Siddhartha Cable Car Project, connecting Butwal to Rishi Kaldeval Ashram, the spiritual guru of Lord Gautam Buddha, and extending towards Nuwakot Gadhi in Palpa. This project has been in commercial operation since Bhadra 2081 (September 2024) and has already become a major attraction for pilgrims and domestic tourists.
The company is also the principal investor of Siddhartha Cable Car Company, highlighting its central role in the development and operation of the project. Looking ahead, Prabhu Cable Car & Tourism Limited is preparing to construct and operate two additional cable car projects: one at Badimalika Temple in Bajura District of Sudurpaschim Province and another at Ichchhakamana Temple in Chitwan District. These projects are expected to significantly boost religious tourism and improve accessibility to these revered destinations.
ISO Certification and Operational Excellence
Prabhu Cable Car & Tourism Limited recently achieved ISO 9001:2015 certification, recognizing the company’s effective management system, customer-friendly service delivery, and compliance with prevailing laws and regulatory frameworks of Nepal. The certification also acknowledges the company’s structured operational procedures, internal control mechanisms, and quality management standards.
Strong Financial Performance
The company remains debt-free and continues to maintain a healthy financial position. In the last fiscal year, Prabhu Cable Car & Tourism Limited recorded an operating profit of NPR 61.9 million, maintaining its track record of consistent profitability.
The company has stated that funds raised through the upcoming IPO will be utilized primarily to complete the construction of the Ichchhakamana Cable Car and Badimalika Cable Car projects.
Boosting Religious Tourism Nationwide
By expanding cable car connectivity to key religious and tourism destinations, Prabhu Cable Car & Tourism Limited aims to play a pivotal role in strengthening Nepal’s domestic tourism infrastructure. The company’s continued profitability, strong institutional backing, and ambitious expansion plans position it as a growing force in Nepal’s tourism development sector.
With its IPO plans now officially underway, Prabhu Cable Car & Tourism Limited is poised to enter a new phase of growth, inviting public participation in a company dedicated to modernizing access to Nepal’s sacred and scenic destinations.
