Upper tamakoshi IPO for locals postpones ; to commence from 16th shrawan

The first phase of IPO issuance of upper tamakoshi hydropower for locals has been postponed. The IPO for locals will now be issued from 16th Shrawan to 14th Bhadra. 

Previously, the issue was planned to commence from 24th Ashad, however a lot of controversies had arised since then. As of late, the MP of Dolakha region had raised the issue of the issue date in the parliament. She had said that the long stretch of Ashadh is an ideal time for the agriculturists and difficult for locals to schedule time for IPO. In this way, she had requested to put off the issue date.  

Citizen Investment Trust and Sunrise Capital are the issue manager for the issue. 

The 456 MW hydro project will collect Rs 2.64 arba from the public of both phases. The company had already issued share to the members and employees of the Employees Provident Fund (EPF), employees of UTPHL, Nepal Electricity Authority (NEA), Nepal Telecom (NT),  Citizen Investment Trust (CIT) and Rastriya Beema Sansthan (RBS). The EPF is the largest lender to the project.