Barahi Sedi to issue IPO

KATHMANDU, August 29:Barahi Sedi, a 5-star hotel in Pokhara that is set to come into operation soon has appointed NMB Capital as its sales manager to issue initial public offerings (IPO)

An agreement has been reached between these two companies for Barahi Sedi Limited to issue an IPO for the general public. According to the company, it will issue 10 percent of the issued capital of Rs 1.16, i.e. 1.16 million shares equal to Rs 111 million.

The contract regarding the appointment of a sales manager has been signed by Biplab Paudel, executive director on behalf of Barahi Sedi, and Deepesh Kumar Vaidya, chief executive officer on behalf of NMB Capital Limited.

According to Paudel, the process will be carried forward as soon as possible after fulfilling all the procedures and requirements set by the regulatory bodies. At present, about 51 percent of the construction work has been completed. The hotel is being built at a fast pace with the plan to start operation in 2025. The hotel will have 150 rooms including 10 presidential suites and 11 service houses.

As the demand for five-star hotels is increasing in the lakeside of Pokhara, a hotel with a casino, a hall with a capacity of 1,200 people, an infinity swimming pool, a health club, a tower lift, and other attractions.