Prabhu Cablecar to issue an IPO

KATHMANDU, April 26:Prabhu Cablecar and Tourism Limited has begun the process of issuing primary shares (IPO) to the general public. The company has requested a sealed bid application to hire a sales manager for the issuance of public shares.

Eligible businesses will be chosen through a competitive process after applying to serve as sales managers. The sales manager will move forward with the IPO filing procedure. The company plans to issue an IPO at a premium. The sales manager will suggest the company's premium price.

The company has started three cable car projects. The Siddharth Cable Car Project in Rupandehi is currently nearing completion. The Siddhartha cable car, which will connect Rupandehi Manimukunda Sen Phulbari Park and Palpa Nuwakot Hill, is nearing completion.

Two other projects are in the beginning stages. The company installed the Khandadevi cable car in Ramechhap and the Siddhababa cable car in Sindhuli. The company stated that preliminary work is being completed on both of these projects.