Locals get upto 102 units share of Upper Tamakoshi

Charikot, Nov. 1 . Upper Tamakoshi Hydropower Project has allotted its share in initial public offering (IPO) to the project affected people in Dolakha district, Dr Ganesh Neupane, Spokesperson of the Company said.

Based on the application, those in the category ‘A’ received the highest 102 unit shares, 48 units share by the category ‘B’ applicants and 34 unit shares was given to the applicant from category ‘C’.

The people were classified in three separate categories of ‘A’, ‘B’ and ‘C’ based on the affected areas from the Upper Tamakoshi Hydropower Company. As per the classification, category ‘A’ was regarded as being the highly affected locals, category ‘B’ as affected locals and category ‘C’ refers to other locals from Dolkha district.

The company had issued the IPO of 10.59 million units of share for the affected people and more than 250,000 people applied for the IPO. Citizen Investment Trust and Sunrise Capital were the issue managers for the IPO issuance.

According to Dr Neupane, the non-allotted amount of the applicants would be deposited in the applicants’ bank accounts within some days.