Classic View Resort has announced its plan to initiate an Initial Public Offering (IPO) in a strategic move. The resort has forged a partnership with NIC Asia Capital, with the agreement signed on Sunday, to facilitate the IPO process.
As per the agreement, Classic View Resort has engaged the services of Capital under their Idea to IPO service, which includes IPO issuance, sales management, and institutional consulting.
In the IPO, the company intends to offer 10.50 lakh shares, equivalent to 14 percent of its issued capital, at a price of Rs. 100 per share.
Located in Budhanilkantha, Kathmandu, the resort is currently undergoing construction, with progress reported at 65 percent. The ambitious project, sprawling over an extensive 19 ropani area, is spearheaded by Mukund Raj Kunwar.
