IPO Proposal of Trade Tower Limited Approved by SEBON

The Securities Exchange Board of Nepal (SEBON) has approved the IPO issue proposal of Trade Tower Limited.

The company will now issue 3,971,693 equity shares at a par value of Rs. 100 each. The amount of the issue is Rs. 39.71 Crore.

Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance.

ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), indicating a moderate risk of default in meeting financial obligations. The rating reflects overall creditworthiness and is not tied to any specific debt instrument.

Trade Tower Limited (TTL), established in 2007 and based in Thapathali, Kathmandu, is a public limited company engaged in leasing, financing, and infrastructure development. Its first project, Trade Tower Thapathali, has been operational since April 2011. TTL recently launched Hotel Crystal Pashupati, a three-star hotel in Gaushala, which began partial operations in mid-April 2024 with 49 out of 90 rooms and two conference halls. As of mid-October 2024, TTL is fully owned by over 350 promoters but plans to issue an IPO, reducing promoter holding to around 51%. Mr. Shiva Hari Dangal is the company’s major shareholder and chairman.