Maulakali Cable Car Limited’s IPO Proposal Added to SEBON Pipeline

The IPO proposal of Maulakali Cable Car Limited has been officially added to the Securities Board of Nepal (SEBON)’s pipeline. The company has applied to issue 1,879,130 shares at a par value of Rs. 100 each, which will raise Rs. 18.79 crore upon approval. The proposal was submitted to SEBON on Kartik 24, 2082.

NIC Asia Capital Limited has been appointed as the issue manager for the public offering. Once SEBON grants approval, the company will be able to issue shares to local residents as well as the general public.

ICRA Nepal has reaffirmed Maulakali Cable Car Limited’s issuer rating at [ICRANP-IR] BB-, indicating a moderate risk of default in meeting financial obligations. The company’s long-term loan rating remains at [ICRANP] LBB-, while its short-term loan rating has been withdrawn.

Established in October 2016, Maulakali Cable Car Limited operates a cable car service along with a 65-key integrated resort in Gaindakot, Nawalpur. The cable car operation began in mid-April 2023, while the resort became operational in mid-May 2025. The majority ownership is held by Mr. Chandra Prasad Dhakal and Mr. Hem Raj Dhakal, both individually and through their associated entities.