Budhanilkantha Heritage Hotel Calls AGM on Mangsir 14, Major Agenda To Issue IPO

Budhanilkantha Heritage Hotel Limited has called its 6th AGM on 14th Mangsir, 2081. The meeting will be held in the Company's Register Office, Budhanilkantha, Kathmandu, Nepal, starting at 4:00 p.m. that day.

Among the other agendas, there is an agenda to issue an Initial Public Offering (IPO) to the general public. Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports, and appoint an auditor for the fiscal year 2081/82. There is a proposal to issue rights shares at a rate of 29.56% from the current paid-up capital of Rs. 85 crores. Additionally, there is an agenda to approve the decision of the Board of Directors and there is also an agenda regarding empowering the Board of Directors to enact essential amendments, additions, reductions, or alterations in the Articles of Association and Regulations throughout the issuance of the Initial Public Offering (IPO) of securities.

ICRA Nepal has assigned the long-term rating of [ICRANP] LB+ (pronounced ICRA NP L B plus) to the NPR 900-million long-term loans (including proposed limits) of Budhanilkantha Heritage Private Limited (BHPL).

Budhanilkantha Heritage Private Limited (BHPL) was incorporated in November 2018. It is a special-purpose vehicle (SPV) that will own and operate a proposed nine-storied-5-star hotel, under construction in Budhanilkantha, Kathmandu on a plot size of ~5,820 square meters. The promoter group comprises professionals such as chartered accountants, doctors as well as private entrepreneurs. BHPL, the first hotel project for the promoter group, is currently under construction with targeted commercial operations from December 2021.

AGM Notice: