Sebon approves gigantic IPO of Upper Tamakoshi ; to issue 2.64 crore units in total

Sebon has approved gigantic IPO of Upper Tamakoshi Hydropower Project. Following this approval, the company can now float shares to both locals and general public. 

The company will issue 1,05,90,000 units to locals of project affected area, which amounts to 10% of company's capital. Similarly, 1,58,85,000 units will be issued to general public. This will be 15% of company's capital. 

Citizen Investment Trust and Sunrise Capital are the issue manager for the puclic issue. ICRA Nepal had assigned Grade 4 rating for the IPO.