Mountain Glory Limited, which has been operating the Mountain Glory Forest Resort and Spa located at Dovilla, Pokhara for the past 8 years, plans to issue 4,000,000 ordinary shares valued at Rs. 100 each to the general public. LS Capital Limited, a subsidiary of Laxmi Sunrise Bank located in New Baneshwor, Kathmandu, has been appointed as the Issue and Sales Manager.
To initiate the issuance of ordinary shares, the company’s chairman, Mr. Sunil Bhakta Shrestha, and Laxmi Sunrise Capital Limited’s CEO, Mr. Bijay Lal Shrestha, have jointly signed an agreement. This bilateral agreement paves the way for the forthcoming issuance of ordinary shares. Mountain Glory Limited holds an issued capital of Rs 1 billion.
At present, the minimum number of units needed to apply for the IPO has not been revealed. Further information regarding the IPO issuance and the minimum application requirement will be disclosed in the forthcoming days.
About Mountain Glory Forest Resort and Spa
Mountain Glory Forest Resort, located in Pokhara just 9 km from Fewa Lake, offers accommodation with a variety of amenities including a restaurant, free private parking, a seasonal outdoor swimming pool, and a fitness center. This 5-star hotel boasts air-conditioned rooms with complimentary WiFi and private bathrooms, as well as a bar for guests to enjoy. The resort provides a 24-hour front desk, room service, and currency exchange facilities for guests’ convenience.
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Each room at the hotel features a desk and a flat-screen TV, along with a wardrobe and a kettle for guests’ comfort. Mountain Glory Forest Resort offers a choice of continental or buffet breakfast options and has a terrace where guests can relax. Additionally, guests can play billiards and take advantage of car rental services.
For further convenience, the resort has a tour desk and offers bike rentals. The business center is equipped with newspapers, a fax machine, and a photocopier. Nearby attractions include the World Peace Pagoda, located 12 km away, and the International Mountain Museum, just 5 km from the hotel.
