Kathmandu. Akama Hotel Limited, which operates a five-star hotel in Dhumbarahi, has revised the face value of the proposed primary share issue (IPO).
The hotel has rs. After the directive of the Securities Board of Nepal, the ipo is being prepared to be issued at the rate of Rs. 50. It has set 100. With the revision of the face price, the IPO units have been limited to Rs 2.25 million. The hotel submitted a revised call letter to the board on June 12 with the revision of the marked price.
The hotel has invested Rs 225 million to raise a total paid-up capital of Rs 225 million from the general public. It had announced to issue 4.5 million units at a face value of Rs 50.
Akama Hotel Limited, the main promoter of Sanima Group, operates a five-star hotel under the Brand Of Dhumbarahi in Ramada Kathmandu.
The hotel had filed an application with the Securities Board of Nepal on July 1, 2018 for the IPO issue. The board has not finalized the approval of the ipo even after the year of applying for the IPO.
