Kathmandu. Hotel Sarathi and Citizens Capital Limited have signed a memorandum of understanding (MoU) for the ipo issue process. Hotel Executive Chairman Pralhad Pyakurel and Chief Executive Officer of Capital Sabir Bade Shrestha signed the agreement at a special ceremony held at Hotel Sarathi, Dhulikhel.
Hotel Sarathi will issue 1.5 million units of ordinary shares worth Rs 150 million, representing 30 per cent of the issued capital. After the IPO, the paid-up capital of the company will reach Rs 500 million. With this agreement, Hotel Sarathi will be listed in nepal’s capital market by the fiscal year 2082/83 BS. With this, new investors will get new opportunities to invest in hotel and tourism sector companies.
Established in 2072 BS, Hotel Sarathi is a luxury hotel located in Dhulikhel, a well-known tourist destination. There are 80 rooms in operation in the hotel including presidential suite, suite, premium and deluxe. The seventh floor of the hotel, which has four large and small assembly halls with a capacity of 20 to 400 people, has ‘Rooftop Infinity Swimming Pool with Pull Bar’. From the hotel, you can get a panoramic view of langtang mountain range and Gaurishankar mountain.
The hotel, which has become the first choice of domestic and foreign tourists, has been able to make its special identity for holidays, corporate, mice as well as destination weddings within a short time of operation.
The hotel, which has been giving priority to locally available food items, has also contributed significantly to employment, skill development and professional capacity building at the local level. Hotels, marts, multi-purpose cooperatives, welfare foundation, schools, training centers, Sarathi Ventures and Holidays are operating under the Sarathi Group.
Spread over an area of 19 ropanis, the hotel has its own organic farm operating, while rope cycling, sports center, picnic spot and helipad are under construction. Aiming to expand its brand to other major tourist destinations in the future, the group has already launched its second property in Sauraha, Chitwan.
