Budhanilkantha Heritage Hotel To Issue IPO

Budhanilkantha Heritage Hotel To Issue IPO

Budhanilkantha Heritage Hotel Limited has decided to issue IPO and they have called its 6th AGM on 14th Mangsir, 2081 to discuss about the IPO.  The meeting to discuss about IPO will be held in the Company’s Register Office, Budhanilkantha, Kathmandu, Nepal, starting at 4:00 p.m. that day.  Offering an Initial Public Offering (IPO) to the public is one of the other agenda items. Additionally, there is a plan to designate an auditor for the fiscal year 2081–2082 and approve the auditor’s report containing PL statements, financial reports, and cash flow reports. The present paid-up capital of Rs. 85 crores is to be used to issue rights shares at a rate of 29.56%. Furthermore, there are agenda items to approve the Board of Directors’ decision and to empower the Board of Directors to make necessary changes, additions, deletions, or modifications to the Articles of Association and Regulations during the securities’ Initial Public Offering (IPO).

Budhanilkantha Heritage Private Limited (BHPL) was established in November 2018 and currently owns a proposed nine-storied-5-star hotel, under construction in Budhanilkantha, Kathmandu on a plot size of ~5,820 square meters.

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