KATHMANDU

Annapurna Cable Car Company has sought permission for the initial public offering (IPO) issuance. The company has submitted an application to the Securities Board of Nepal to seek permission for an IPO issuance worth Rs 310 million at a face value of Rs 100 per share.

Muktinath Capital is the sales manager for the company’s IPO issuance.

The company, which mainly relies on revenue from cable car fares, is currently operating only cable car services in Pokhara. Once the application submitted to the board for IPO issuance is approved, the company will proceed with the additional process of IPO issuance.