Upper Tamakoshi refunds excess application amount of non-allottee locals; Amount refunded after 1.5 months of allotment

  • -ShareSansar
Mon, Dec 10, 2018 12:50 PM on IPO/FPO News, Latest, Stock Market,
Upper Tama...

Upper Tamakoshi Hydropower Company has refunded the excess amount to the non allottee locals of Dolkha district.

The hydropower company has refunded the remaining amount to 2,76,194 applicants in their respective bank accounts.

The refund of the application amount has taken about 1.5 months as the IPO for the locals was allotted on Kartik 13, 2075. However, the refund of the excess amount of the general public was made quickly.

Upper Tamakoshi has completed all three phases of its IPO issuance and is likely to list the shares issued in the first phase and the last phase soon.

Citizen Investment Trust and Sunrise Capital were appointed as the issue managers for the IPO issuance.