The end of Dashain will mark the allotment of Upper Tamakoshi’s shares; Issue oversubscribed by three times

Fri, Sep 14, 2018 5:06 PM on IPO/FPO News, Latest, Stock Market,
The end of...

The shares of Upper Tamakoshi will be allotted only post Dashian. The issue that was open to the residents of affected area got closed only on 29th Bhadra. The project spokesperson Dr. Ganesh Neupane further confirmed the allocation of shares will be done after Dashain.

The issued units have been oversubscribed by more than 3 times. For the local residents, the hydropower company issued 1 crore 5 lakhs 10 thousand unit shares for an amount of Rs 1 arba 5 crore 10 lakh. The application of Rs 3 arba has been received. Although 2 lakh 82 thousand applicants could have applied for the issue, 2 lakh 15 thousands Dolakha residents applied for the issue.  The affected residents were assigned with 10% of the total issue. The residents could have applied for 30 to 300 units of shares in the hydro company.

The ordinary share is estimated to open in the last week of Kartik as per the same source. Upper Tamakoshi Hydropower Limited will issue 15% of their paid up capital as the public issue. The lump sum amount stands at Rs 1 arba 58 crore 85 lakhs for a total of 1 crore 58 lakh 85 thousand units shares.