Soaltee Westend Itahari owner Hotel Garima to launch Rs 400M IPO
With this agreement in place, the public issuance of shares is expected to take place in the near future, subject to regulatory approvals.
KATHMANDU: Hotel Garima Limited, the owning company of the five-star standard Soaltee Westend Itahari, one of eastern Nepal’s most prestigious hospitality destinations, has appointed Laxmi Sunrise Capital Limited as the issue and sales manager for its upcoming Initial Public Offering (IPO).
Under the agreement, Hotel Garima Limited will issue 4,000,000 ordinary shares to the general public at a face value of Rs 100 per share, amounting to a total issue size of Rs 400 million.
The bilateral agreement was formally signed on 25 Poush 2082 at Laxmi Sunrise Capital’s corporate office in New Baneshwor, Kathmandu.
The agreement was signed by Mr. Binod Poudel, Managing Director of Hotel Garima Limited, and Mr. Bijay Lal Shrestha, Chief Executive Officer of Laxmi Sunrise Capital Limited.
With this agreement in place, the public issuance of shares is expected to take place in the near future, subject to regulatory approvals.
This strategic move reflects Hotel Garima Limited’s commitment to corporate transparency, sustainable growth, and broad-based public participation, while also contributing to the expansion of investment opportunities in Nepal’s hospitality and tourism sector—particularly in Koshi Province.
Managed by the renowned Soaltee Hotels & Resorts Group, Soaltee Westend Itahari features a premium inventory comprising one Royal Suite, eight Suites, eight Executive Rooms, 58 Deluxe Rooms, and seven Studio Rooms. The hotel also offers world-class amenities, including two banquet halls, three seminar halls, a spa operated under the “Nuad Thai” brand, a gymnasium, and a café lounge restaurant, catering to both business and leisure travelers.
The planned IPO marks a significant milestone for Hotel Garima Limited and is expected to further strengthen Nepal’s growing hospitality industry while fostering regional economic development through increased public investment.
