The Securities Board of Nepal (SEBON) has added the Initial Public Offering (IPO) proposal of Hotel Forest Inn Ltd. to its pipeline, awaiting approval. The company has submitted a proposal to issue 9,800,000 shares, aiming to raise Rs. 98 crores. The application was officially submitted on Kartik 15, 2080.
Hotel Forest Inn Limited
NIC Asia Capital Limited has been appointed as the issue manager for the public offering. The CARE Ratings Nepal Limited (CRNL) has assigned a long-term rating of ‘CARE-NP BB-’ to the company’s bank facilities, indicating moderate risk.
Incorporated on November 22, 2010, Hotel Forest Inn Ltd. is constructing a 5-star hotel in Budhanilkantha, Kathmandu, on a plot of land spanning 1,42,783 square feet. The hotel will feature 102 rooms and is expected to begin operations by October 2023. The hotel has entered into a license agreement with Intercontinental Hotels Group (IHG) to operate under the Holiday Inn brand, a globally recognized American hotel chain.
The company is managed by a highly experienced board of directors, chaired by Mr. Dipak Khadka, who has over two decades of experience in the power and hospitality sectors. Mr. Khadka is also the chairperson of Menchhiyam Hydropower Limited and Hotel Eastern Nepal Private Limited, bringing a wealth of expertise to the company.
