Hotel Forest Inn Limited IPO Allotment Concludes: Lucky 3,32,000 Applicants Allotted 10 Units Each via Lottery System
Summary
Hotel Forest Inn Limited concluded its IPO allotment today, allotting 10 units each to 332,000 applicants through a lottery system. The hotel is constructing a 5-star Holiday Inn branded property in Budhanilkantha, Kathmandu.
Key Points
- Hotel Forest Inn Limited concluded its IPO allotment at Holiday Inn Resort, Budhanilkantha, Kathmandu.
- 33,20,000 units were offered in the IPO, with 3,32,000 applicants allotted 10 units each via lottery.
- The company plans to operate a 5-star Holiday Inn hotel in Budhanilkantha with 102 rooms starting October 2023.
- CARE Ratings Nepal Limited assigned a ‘CARE-NP BB-’ rating to the company’s long-term bank facilities.
