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HomeNewsAnnapurna Cable Car Issuing IPO with Muktinath Capital

Annapurna Cable Car Issuing IPO with Muktinath Capital

Annapurna Cable Car established in Pokhara which is preparing to issue its IPO (initial public offering) has posted sound financial results. The company’s total business operations reached worth Rs 8.10 crore in a single year.  

The company Annapurna Cable Car Pvt. Ltd. has received an NP B plus issuer rating for a long-term loan of Rs 1 billion and NP A4 for a short-term loan of Rs 2 crore from Care Ratings Nepal. The rating translates to a moderate risk for the company’s financial obligations. Real estate businessman Kalu Gurung is the chairman of the company.

Annapurna Cable Car has appointed Muktinath Capital as its issue manager. The agreement was reached in Baiskah 2080.

annapurna cable car ipo
Credit: Facebook/Annapurna Cable Car

The company has a total capital of Rs 1.55 billion and will issue 20% of it in IPO. That is it will float 31 lakh units of shares in its IPO. Chairman Gurung said that the 20% IPO issuance will promote public participation in cable car transport. He said that shares per unit of Rs 100 will be issued to the general public. But the timeline for it hasn’t been disclosed yet.

Annapurna Cable Car will issue its shares at Rs 100 per unit

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Annapurna Cable Car

The ropeway transport is built in Sarangkot Pokhara at a length of 2.3 kilometers with 17 gondolas. It’s the only cable car in Nepal that allows a very close scenery to the passengers aboard.

It has the bottom station in Sedibagar, Lakeside, Pokhara Metropolitan City- 18

The passengers can enjoy the sunrise, sunset, and the majestic view of the Himalayas range as they board from Sedi to reach Sarangkot by cable car.  

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