Upper Tamakoshi's Rs 1.05 arba worth IPO closes today; Extended issue for locals of Dolakha district to close

Today is the last day for the locals fof Dolakha district to apply for the IPO of Upper Tamakoshi Hydropower. After the deadline was extended by 1 week, the closing day for the IPO issuance is on Bhadra 21 i.e today.

Upper Tamakoshi has issued the shares to collect Rs 1.05 arba from the locals of the project affected area.

Citizens Investment Trust and Sunrise Capital have been appointed as the issue managers for the IPO issue.

ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

The minimum applications can be placed for 30 units and maximum for 300 units.

As of the latest update, more than 2 lakh applications have been received and the the collections have exceeded Rs 3 arba. The IPO issue has been oversubscribed by 2.85 times.

Also read: Nepal’s Dream Project; Upper Tamakoshi finally opens its doors for Investors