Bandipur Cable Car IPO to start on 27 August

Bandipur Cable Car and Tourism Limited will open its IPO to the general public from Bhadra 11 (27 August).

Out of the total capital of NPR 2.83 billion, 20.7 percent of shares, or 5.86 million shares, are set aside for the public. After allocating shares to project-affected people, employees, those working abroad, and collective investment funds, 4,341,080 shares will be available for general investors.

The company’s shares can be applied for from 27 to 31 August, according to the issue manager, Nepal SBI Merchant Banking. Applicants can apply for a minimum of 10 shares and a maximum of 20,000 shares.

Applications can be submitted online through the Meroshare system or via banks and financial institutions that are C-ASBA members.

The company mainly operates the cable car service in Bandipur. It has started commercial operations and received a BB rating from Care Ratings Nepal, indicating a moderate level of obligation.

The total estimated cost of the project, including interest, is NPR 3.85 billion. As of the end of Chaitra, the company’s net worth per share was NPR 92.41. Earnings per share were negative NPR 2.84, and accumulated losses stood at NPR 10.06 million.