Upper Tamakoshi’s shares to be listed within a month; Cost associated with share issue is solely Rs 10 crores

Wed, Nov 28, 2018 12:15 PM on Latest, Stock Market,

Post the conclusion of allotment of shares of Upper Tamakoshi, Sunrise Capital has been assigned as the RTS.  Mr. Bijaya Lal Shrestha; CEO of Sunrise Capital said “The listing process might be completed within a month.” He further elaborated “The listing process will begin right after the meeting of board of directors of Upper Tamakoshi”.

 The primary shares issued to general public and EPS holders will be tradable after the listing process. However, the shares issued to locals still have a lock-in period of three years. The lock in period of shares issued to EPF holders was over in Jestha, 2075.

In the released press statement, a detailed segregation of cost was also provided. The cost associated with all the three phases of public issue was solely Rs 10.52 crores.

Besides, the BODs of company initially estimated Rs 49.29 arba for construction cost excluding interest expenses. However, due to incidents such as earthquake, the construction works slowed down and the interest cost stood at Rs 14.43 arba until the FY 2074/75. Previously, Upper Tamakoshi predicted the interest cost to stand at Rs 13 arba.

Similarly, Upper Tamakoshi has projected a cost of Rs 5.41 arba as the interest cost for the FY 2075/76. The company further attributed Rs Rs 34.96 crores to commission of BFIs.

Therefore, the total construction cost including the interest cost has been estimated to be Rs 69.59 arba.