Kalinchowk Darshan gets SEBON approval to IPO

KATHMANDU, Nov 21: Kalinchowk Darshan Limited, which is operating a cable car in Dolakha's Kuri valley, has received permission to issue initial shares (IPO).

The Securities Board of Nepal (SEBON) has given such approval on 23rd November. The company, which has a paid-up capital of 600 million rupees, is about to issue shares worth 120 million rupees.

The company has earned three crore 69 lakh rupees in the financial year 2077/78. The company has made a strategy to invest about 250 million in the construction of a 35-room hotel.

It was decided that some of the money raised by issuing the IPO will be invested in it and the founders will put in the additional money.

Since the company's project is in the upper part, the challenge of geographical complexity seems to always remain.

In the financial year 2077/78, there were 22 million loans and 29 million shares were invested. In the first six months of the financial year 2078/79, the founders have added an additional investment of 18 lakh 50 thousand.

In the first six months of the financial year 2078/79, there was a decrease in the number of tourists arriving there.