Hotel Forest Inn Limited Opens IPO for General Public

Kathmandu. Hotel Forest Inn Limited has opened the application process for its Initial Public Offering (IPO) for the general public starting today. The company has issued a total of 3,320,000 units of ordinary shares for the general public.

Among the issued shares, 200,000 units have been allocated for mutual funds and 80,000 units for employees. General investors can apply for the remaining shares. Provisions have been made for investors to apply for a minimum of 10 units up to a maximum of 200,000 units. 

Applications can be submitted through ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branch offices. Additionally, the facility for online application is available through the Mero Share system.

The company has stated that this IPO issuance will close at the earliest on Magh 26 and at the latest on Falgun 8. NIC Asia Capital Limited is the issue and sales manager for the company's IPO.

Hotel Forest Inn Limited received permission from the Securities Board of Nepal on Poush 20 to issue 4,000,000 units of ordinary shares at a face value of 100 rupees per share, totaling 40 crore rupees. 

Under this, in the first phase, the company already issued an IPO for Nepali citizens employed abroad from Poush 24 to Magh 8. Following the first phase of issuance, the company has opened the IPO for the general public in the second phase.