Bandipur Cable Car and Tourism Limited is opening its IPO for general public from Bhadra 11 to Bhadra 15. Investors across Nepal can now apply for shares in the company.
Earlier, the company had already issued shares to locals from the project area, Nepalis working abroad, employees, and mutual funds. The company has approval to issue a total of 58.6 lakh shares, which is about 20.7 percent of its total capital of Rs. 2.83 billion.
How many shares are for general public?
In this second phase, 43.41 lakh shares are being offered to the general public at a face value of Rs. 100 each. Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The IPO will close on Bhadra 15 if fully subscribed.
Rating and EPS details
Care Ratings Nepal has rated the company ‘CARE-NP BB (Issuer)’, indicating an average level of risk. The company’s EPS is -0.38, and it operates in the Hotel and Tourism sector.
The total estimated cost of the Bandipur Cable Car project is Rs. 3.85 billion, with an expected investment recovery period of 8 to 10 years.
Nepal SBI Merchant Banking Limited is managing the IPO. Applications can be submitted through the C-ASBA system or online via Mero Share.
