SEBON Adds IPO Share of Hotel Forest Inn Ltd. in its Pipeline

The Initial Public Offering (IPO) of Hotel Forest Inn Ltd. has been added to SEBON’s IPO pipeline for approval.

Hotel Forest Inn Ltd. has submitted a proposal to the capital market regulator to issue 9,800,000 shares. This will raise Rs. 98 crores for the company. The application was submitted on Kartik 15, 2080.

NIC Asia Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB-’ to the long-term bank facilities of Hotel Forest Inn Private Limited.

Hotel Forest Inn Private Limited was incorporated on November 22, 2010 and is constructing a hotel in Budhanilkantha, Kathmandu which is spread over 1,42,783 Sq. ft. of land with a total of 102 room keys and is proposed to be categorized as a 5-star hotel property. The hotel is expected to start operation from October 2023.

The hotel has entered into ‘License Agreement’ with Intercontinental Hotels Group (IHG) for the international hotel brand of ‘Holiday Inn’ which is an American based mid-scale hotel chain. 

The company is managed under the overall guidance of the company’s board of directors (BOD) who possess wide industry experience. The board is chaired by Mr. Dipak Khadka who has more than two decade of work experience in power, hospitality and other sectors. He is also Chairperson at Menchhiyam Hydropower Limited (CARE-NP BB), Hotel Eastern Nepal Private Limited and has been associated with various companies at the board level. The BOD is aptly supported by an experienced team across various functions/departments.