Nigalo Hotel Limited has appointed Muktinath Capital Limited as the issue and sales manager to move forward with its public share (IPO) issuance process. The agreement was formally signed by Nigalo Hotel Chairman Tika Raj Baral and Muktinath Capital CEO Kabindra Dhwaj Joshi during an official ceremony, attended also by Chartered Accountant Anil Poudel.
Located in Nagarkot, the four-star hotel featuring traditional and cultural architectural design plans to issue 1,875,000 ordinary shares, equivalent to 25 percent of its issued capital, to the general public.
According to the company, Nigalo Hotel aims to establish a distinct identity by blending a traditional heritage experience with modern hospitality services. A special view tower within the hotel premises offers panoramic views of the Himalayas as well as the Kathmandu, Bhaktapur, and Lalitpur valleys, which the company believes will enhance its unique appeal. The project is also expected to contribute positively to tourism promotion, job creation, and the local economy.
Currently in the final phase of operation readiness, the hotel will feature 68 premium rooms (including suites), three banquet halls, three restaurants, a bar, swimming pool, spa, gym, meditation hall, coffee shop, music club, and other world-class amenities. A plan to operate the first casino in the area has also been included in the company’s long-term strategy.
Following the IPO, the company plans to expand its services to major cities such as Pokhara, Kathmandu, and Chitwan in the near future, Chairman Baral stated. The founding and promoter group includes experienced entrepreneurs from the tourism, hydropower, banking, and education sectors. Hotel operations will be led by management professionals with over 25 years of industry experience.
With an investment of approximately NPR 1 billion, the hotel is expected to commence operations within the next four months. The company has also informed that studies are underway to strategically operate the hotel in collaboration with Indian and international travel agencies.
