Long-awaited Upper Tamakoshi IPO opens today

ShareSansar, February 23

Upper Tamakoshi Hydropower Limited (UTHPL) has floated its Initial Public Offering (IPO) for the project-affected locals of Dolakha district as well as for the staff of lending institutions from February 23 (today). Citizen Investment Trust, Employee Provident Fund, Rastriya Bima Samiti are the lending institutions.

The hydropower company is floating a total of 3,60,06,000 units of primary shares at face value of Rs 100.
The issue will be managed by Citizen Investment Trust and NCM Merchant Banking and the offer will close on Falgun 25 and the maximum date by which one should apply for the shares is Chaitra 15.

The minimum number of shares an individual must apply is 50 units whereas maximum number of shares an individual can apply is 5,000 units.

The IPO of the Upper Tamakoshi will be the biggest ever in the capital market of Nepal in terms of the volume of shares. The 456-MW hydropower project has a paid-up capital of Rs 10.59 billion.