Bandipur Cable Car & Tourism IPO Opens for Subscription from Today

Bandipur Cable Car & Tourism Limited has opened its Initial Public Offering (IPO) for the general public from today (Bhadra 11). The company received approval from the Securities Board of Nepal (SEBON) to issue 5,860,000 ordinary shares worth NPR 586 million at a face value of NPR 100 each, representing 20.70% of its issued capital of NPR 2.83 billion.

Out of the total shares, 566,000 shares were allocated to locals of project-affected areas and 529,400 shares to Nepalis working abroad, which have already been distributed. Additionally, 264,000 shares have been set aside for mutual funds and 158,820 shares for company employees. The remaining 4,341,080 shares are now open for the general public.

Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares until Bhadra 15. If the issue is not fully subscribed within this period, the deadline will be extended until Bhadra 25. However, given the current oversubscription trend in IPOs, it is expected to close within the initial timeline.

Nepal SBI Merchant Banking Limited is the issue manager for this IPO.