Doleshwor Village Resort Proposes IPO of 16.20 Lakh Shares

Doleshwor Village Resort and Farm House Limited has proposed issuing 16.20 lakh ordinary shares to the general public through an Initial Public Offering (IPO). The proposed public offering represents 30% of the company’s issued capital, and the company has already submitted an application to the Securities Board of Nepal (SEBON) seeking approval for the IPO. The decision was endorsed at the company’s 11th Annual General Meeting (AGM) held at its resort in Sipadol, Suryabinayak Municipality-8, Bhaktapur. The company plans to utilize the funds raised through the IPO to expand its facilities and upgrade the resort to a four-star standard. The proposed expansion includes the addition of rooms, a swimming pool, spa, jacuzzi, seminar hall and entertainment facilities, among other upgrades. The AGM also elected Ramnath Mainali, Buddhaprasad Pokhrel, Dor Bahadur Bhandari, Srishti Pokhrel, Chhabilal Luintel and Dhruvraj Pokhrel as directors. Mainali has been appointed as the chairperson, while Tikadhwaj Bhandari has been selected as the independent director.