Siddharth International Hotel to issue IPO, Muktinath Capital appointed as Issue Manager

KATHMANDU, July 18:Siddharth International Hotel Limited, a subsidiary of Siddhartha Business Group of Hospitality, is planning an initial public offering (IPO). Muktinath Capital has been appointed as the IPO's issuer and sales manager.

Siddharth International Hotel Limited, which is planning an IPO, operates a four-star Siddharth Boutique Hotel in Bouddh and a five-star Siddhartha Vilasa in Bhairahawa, Rupandehi.

Chintamani (Laxman) Neupane, President of Siddhartha Business Group of Hospitality, and Kavindradhwaj Joshi, CEO of Muktinath Capital, signed the agreement on Tuesday morning.

Chairman Neupane stated that the IPO will be launched within the current fiscal year. According to him, the general public will receive 10% of the total issued capital.