Bandipur Cable Car & Tourism Ltd. to Issue IPO from Bhadra 11

Bandipur Cable Car & Tourism Limited is set to open its Initial Public Offering (IPO) to the public from Bhadra 11. The company has received approval from the Securities Board of Nepal (SEBON) to issue 20.70% of its issued capital, equivalent to 5.86 million ordinary shares at a face value of Rs. 100 each, from its total issued capital of Rs. 2.83 billion.

Earlier, the company had already allotted 566,000 shares to local residents of the project-affected area and 529,400 shares to Nepalis working abroad. Similarly, 264,000 shares have been reserved for mutual funds and 158,820 shares for employees. The remaining 4.34 million shares will now be issued to the general public.

Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The deadline for application is Bhadra 15, which may be extended until Bhadra 25 if sufficient applications are not received within the initial period.

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