KATHMANDU, Jan 13: Nigalo Hotel is set to issue an Initial Public Offering (IPO). The four-star hotel located in Nagarkot plans to issue 1.875 million shares, representing 25 percent of its issued capital.
To move forward with the IPO process, the hotel has appointed Muktinath Capital as the issue and sales manager.
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An agreement to this effect has been signed between the hotel and Muktinath Capital. The agreement was signed by Nigalo Hotel Chairman Tika Raj Baral and Muktinath Capital Chief Executive Officer Kavindra Dhwaj Joshi.
According to Chairman Dahal, the hotel—constructed with an investment of approximately Rs 1 billion reflecting distinctive architectural design—is expected to come into operation within four months.
He stated that the hotel will feature 68 premium rooms (including suites), three banquet halls, three restaurants, as well as a bar, swimming pool, spa, gym, meditation room, coffee shop, music club, and other facilities. The hotel is also planning to operate a casino.
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