Kathmandu. Bandipur Kewalkar and Tourism has issued its initial public offering (IPO) from today.

In the first phase, the company has issued an IPO for the locals of the project-affected areas and nepalis living abroad for employment.

The company has received permission to issue 20.70 percent of the issued capital of Rs 2.83 billion i.e. 5.86 million units of shares worth Rs 586 million. It has issued 566,000 units of shares worth Rs 56.6 million at the rate of Rs 100 per share for the project-affected locals.

Local residents of Bandipur rural municipality of Tanahun district, all wards of Abukhaireni rural municipality, Bhanu municipality-1 and Palungtar municipality-7 of Gorkha district will be able to apply.

Similarly, 529,400 units of shares worth Rs 52.94 million have been issued for Nepalis living abroad for employment.

Applications can be made from a minimum of 10 units to a maximum of 20,000 units.

The project will be held for the affected locals on August 15. If the application is not received as per the demand during the period, the application can be submitted till August 15.

Nepalis in foreign employment can apply till July 30. If the application is not received as per the demand during the period, the application can be submitted till August 15.

Nepal SBI Merchant Banking is the sales manager of the company. Locals can apply from bandipur rural municipality-4, Abukhaireni rural municipality office, Bhanu municipality-1 office and Palungtar municipality-7 office.

Nepalis in foreign employment can apply through banks and financial institutions that are C-Ashwa members and my shares approved by the Securities Board of Nepal.