Kathmandu, July 17
Siddhartha International Hotel Limited (SIHL), a company in
Nepal's hospitality sector and part of Siddhartha Hospitality, is set to launch
its Initial Public Offering (IPO).
The company has appointed Muktinath Capital as an issue manager
for the IPO.
SIHL operates the Siddhartha Boutique Hotel in Bauddha and the
Siddhartha Vilasa in Bhairahawa, Rupandehi.
Chairman of Siddhartha Hospitality Chintamani Neupane and CEO of
Muktinath Capital Kabindra Dhoj Joshi signed the agreement on Tuesday for the
issuance of the IPO.
The IPO, in which 10 per cent of the total issued capital will
be offered to the public, is planned for the current Fiscal Year 2024/2025,
according to Neupane.
Siddhartha Hospitality oversees more than two dozen companies,
including Siddhartha Vilasa (five-star), Siddhartha Vaibhav (four-star), and
Siddhartha Vatika (three-star), along with ventures in hospitality education,
restaurants, cottages, cafes, agricultural farms, trading, and IT
services.
Muktinath Capital, a subsidiary of Muktinath Bikas Bank, is a
leading merchant banking firm renowned for portfolio management, share
registrar services, securities issue and sales, underwriting, depositary
participant services, fund manager and depository and corporate advisory
services in the capital market.
Published in The Rising Nepal daily on 18 July 2024.
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