Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Hotel Forest Inn.

Applicants can apply only till office hours today.

The company has been allowed to issue an IPO of Rs 400 million i.e. 20 percent of the issued capital of Rs 2 billion. 4 Lakh units have been set aside for the employees of the company while 2 Lakh units have been set aside for the mutual funds and 80,000 units have been set aside for the employees.

The company is issuing 33,20,000 units of ordinary shares worth Rs 33.30 crore to the general public. Applications can be place for minimum 10 units and maximum 2,000,000 units.

NIC Asia Capital has been appointed as the issue manager for the auction. The interested investors can apply for the shares through the online system of CDS & Clearing or any of the banks and financial institutions participating in the ASBA service approved by the Securities Board of Nepal (SEBON).

The company has invested more than Rs 3.48 billion in hotel projects. The project has a non-investment return period of 10.86 years and discount return period of 15.33 years.