Prabhu Cablecar and Tourism Limited to Float 30 Lakh Shares in IPO | Appoints Kumari Capital as Issue Manager
November 19, 2024 | Investopaper
Prabhu Cablecar and Tourism Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Kumari Capital Limited as the issue and sales manager.
The agreement was signed by Mr. Pushpa Sharma, Chief Executive Officer of Kumari Capital and Mr. Bhog Kumar Khadka, the Chairman of Prabhu Cablecar and Tourism Limited.
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.
The company plans to sell 30 lakh unit shares at the par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 30 crores.
About Prabhu Cablecar and Tourism Limited
Prabhu Cablecar and Tourism Limited was established with significant investments from four companies under Prabhu Groups and Companies, including Prabhu Energy Agriculture Tourism Development Limited, Prabhu Holdings and Hydro Development Company Limited, Hydro Holdings and Power Development Company Limited, and Prabhu Steels and Hydro Equipment Industries Limited.
Prabhu Cablecar and Tourism Limited is the primary investor in the Siddhartha Cable Car project, which spans from Deurali Hill at Fulbari Park in Butwal to Nuwakot in Palpa. The project has been operational since last Ashwin.
The company is also preparing to construct cable cars at the Bodimalika Temple in Bajura District and the Ichhakamana Temple in Chitwan.
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