Hotel Forest Inn Limited IPO Opens from Magh 4, Opportunity for Nepalis Working Abroad

Hotel Forest Inn Limited is set to issue an Initial Public Offering (IPO) for Nepali citizens working abroad starting from Magh 4. The company has received approval to issue 20 percent of its issued capital of NPR 2 billion, amounting to 4 million shares worth NPR 400 million. Out of this, 400,000 shares (10 percent) at a face value of NPR 100 per share have been allocated exclusively for Nepalis employed overseas.

Applicants can apply for a minimum of 10 shares and a maximum of 200,000 shares. The IPO for foreign-employed Nepalis will close on Magh 8 at the earliest and Magh 18 at the latest.

For the purpose of the IPO, Infomerics Credit Rating Nepal has assigned the company an IRN BB- issuer rating, indicating a moderate level of risk in meeting its financial obligations.

The total cost incurred in completing the hotel project stands at over NPR 3.48 billion. The project’s simple payback period is estimated at 10.86 years, while the discounted payback period is 15.33 years.

The issue and sales manager for the IPO is NIC Asia Capital Limited. Eligible foreign-employed Nepalis can apply through C-ASBA participating banks and financial institutions or via the Mero Share online platform operated by CDS and Clearing Limited.