Budhanilkantha Heritage Limited to Issue IPO | Appoints Global IME Capital as Issue Manager
February 11, 2024 | Investopaper
Budhanilkantha Heritage Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Global IME Capital Limited as the issue and sales manager.
The agreement for public offering was signed between the company and Global IME Capital Limited on this regard. Mr. Babukaji Karki, on behalf of Budhanilkantha Heritage and Mandip Luitel, CEO of Global IME Capital inked the agreement.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the company can issue the shares to the public.
In the first phase, the company will sell shares to the Nepalis in foreign employment. Likewise, in the second phase, it will float shares to the general public, including the employees of the company and the mutual fund schemes.
In total, the company plans to issue 15,00,000 shares in the public offering at a premium over the face value.
About Budhanilkantha Heritage Limited
Budhanilkantha Heritage was established on November 2018 as a private limited company. Later it was converted into public company to issue shares to the public.
The company is currently operating a nine-storied 5-star hotel in Budhanilkantha, Kathmandu. The cost of the project is Rs. 2.40 Arba.
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