Trade Tower Limited (TTL) has officially launched its Initial Public Offering (IPO) for the general populace today, 14th Jestha, 2082. The firm is offering a total of 32,96,505.19 unit shares at a nominal value of Rs. 100 per unit. The IPO will close early on 19th Jestha, 2082, unless the issue is not completely subscribed by that date, in which case the deadline will be extended to 28th Jestha, 2082.
From the overall 39,71,69,300 units, 10% or 3,97,169.30 units have already been allocated to Nepalese citizens residing abroad, and 2% or 79,433.86 units are reserved for the company’s employees, while 5% of the total shares offered, which amounts to 1,98,584.65 units, has been designated for mutual funds. The balance of 32,96,505.19 units is available for the general populace, with subscriptions opening today.
LS Capital Limited has been appointed as the issue manager for the IPO. Applications can be made for a minimum of 10 units and a maximum of 1,000 units.
ICRA Nepal has reaffirmed an [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), suggesting a moderate likelihood of default in fulfilling financial obligations. This rating reflects the company’s overall creditworthiness and is not associated with any particular debt instrument.
Founded in 2007 and headquartered in Thapathali, Kathmandu, Trade Tower Limited (TTL) is a public limited entity involved in leasing, financing, and infrastructure development. Its inaugural project, Trade Tower Thapathali, has been operational since April 2011. Recently, TTL opened Hotel Crystal Pashupati, a three-star hotel located in Gaushala, which began partial operations in mid-April 2024, featuring 49 out of 90 rooms and two conference halls. As of mid-October 2024, TTL is entirely owned by over 350 founders but plans to issue an IPO, reducing the promoters’ stake to approximately 51%. Mr. Shiva Hari Dangal serves as the company’s principal shareholder and chairman.
