Kathmandu. Hotel Garima Limited, the owner of the five-star hotel Soaltee Westend Itahari, is going to issue an initial public offering (IPO) to the general public. The company is issuing 40 lakh units of face value of Rs 100 per share.
Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance. The agreement was signed between Mr. Binod Poudel, Managing Director of Hotel Garima Limited and Mr. Bijay Lal Shrestha, Chief Executive Officer of Laxmi Sunrise Capital.
This move of Hotel Garima Limited reflects the company’s commitment to the growth and transparency of the company as well as the expansion of investment opportunities in Nepal’s hospitality industry and tourism development, especially in Koshi Province.
The hotel, managed by Soaltee Hotel and Resort Group, has one Royal Suite, eight suites, eight executive rooms, 58 deluxe rooms and seven studio rooms. The hotel has two banquets, three seminar halls, a spa managed by the ‘Nuwad Thai’ brand, a gym and restaurant, café lounge and many other facilities.
