Work at Upper Tamakoshi site resumes; share issuance likely to begin soon

ShareSansar, March 26:

Dolakha residents will soon be able to apply for the Initial Public Offering (IPO) of Upper Tamakoshi Hydropower Project Ltd (UTKHPL).

The eligible applicants can file for the shares soon as the hydropower company reached some kind of settlement with the locals and the workers of the UTKHPL who had forcefully shut down the works at the site demanding share allocation.

The project has already set aside 10 percent (10,590,000 units) of the total shares for the locals of Dolakha district under project-affected district category.

The minimum number of shares one must apply is 50 units. The maximum number of shares one can apply is 300 units i.e. for the people of Lamabagar and Gaurishankar V.D.C and for Municipality residences its 70 units.

The IPO of the Upper Tamakoshi is 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.