Kathmandu — Nigalo Hotel Limited has formally initiated the process of issuing an Initial Public Offering (IPO) to the general public. The company has appointed Muktinath Capital Limited as the issue and sales manager for the IPO.
An agreement to this effect was signed during a formal ceremony by Tika Raj Baral, Chairman of Nigalo Hotel Limited, and Kabindra Dhwaj Joshi, Chief Executive Officer of Muktinath Capital Limited. Chartered Accountant Anil Poudel was also present at the signing event.
According to the company, Nigalo Hotel plans to issue 1.875 million ordinary shares, representing 25 percent of its issued capital, to the public. The IPO will be offered after completing the necessary regulatory procedures.
Nigalo Hotel is a four-star property under construction in Nagarkot. The hotel is being developed with a blend of traditional heritage architecture and modern hospitality facilities. Once operational, it will feature 68 premium rooms along with amenities including a banquet hall, restaurant, bar, swimming pool, spa, gym, and other modern services.
The total investment in the project is estimated at around Rs 1 billion. The company has stated that the hotel is expected to come into operation within the next four months.
