Budhanilkantha Heritage Hotel Limited has scheduled its 6th Annual General Meeting (AGM) for Mangsir 14, 2081. The meeting will take place at the Company’s Registered Office in Budhanilkantha, Kathmandu, Nepal, beginning at 4:00 p.m.
Key items on the agenda include a proposal to issue an Initial Public Offering (IPO) to the general public. Additionally, there will be a review and endorsement of the auditor’s report along with profit and loss statements, financial reports, and cash flow statements. The AGM will also consider appointing an auditor for the fiscal year 2081/82 and proposes to issue rights shares at a rate of 29.56% based on the current paid-up capital of Rs. 85 crore. Further, the meeting will seek approval for recent Board of Directors’ decisions and discuss empowering the Board to make necessary amendments, additions, reductions, or changes to the Articles of Association and Regulations in line with the IPO issuance.
ICRA Nepal has assigned a long-term credit rating of [ICRANP] LB+ (pronounced ICRA NP L B plus) to NPR 900 million in long-term loans (including proposed limits) for Budhanilkantha Heritage Private Limited (BHPL).
Incorporated in November 2018, BHPL is a special-purpose vehicle (SPV) established to own and operate a nine-story 5-star hotel currently under construction in Budhanilkantha, Kathmandu, on a plot of approximately 5,820 square meters. The promoter group includes professionals such as chartered accountants, doctors, and private entrepreneurs. This project is the group’s first hotel venture, with commercial operations expected to commence by December 2021.
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About: Budhanilkantha Heritage Hotel
Budhanilkantha Heritage Hotel is a luxury five-star hotel under construction in Budhanilkantha, Kathmandu, by Budhanilkantha Heritage Private Limited (BHPL), a company founded in 2018. The hotel will occupy 5,820 square meters and is expected to begin operations by December 2024. The project is led by a diverse group of professionals, including chartered accountants and doctors. BHPL’s upcoming 6th AGM will discuss issuing an Initial Public Offering (IPO), appointing an auditor, and other financial matters.
