Upper tamakoshi IPO to commence from 24th Ashad for locals ; People allowed to apply 30-300 units

Upper tamakoshi hydropower project has published an offer letter regarding the IPO to locals of dolakha in the first phase. 

As per the offer letter, applicants can apply for 30-300 units at a face value of Rs 100. The issue will commence from 24th Ashad and end on 9th of Shrawan 2075. The company will issue a total of 1,05,90,000 units to the locals firstly.

In the 2nd phase, 1,58,85,000 units will be issued to general public. The dates for issue to general public will be published later. Applicants can apply for 50 units to 1000 units in second phase.

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.