Upper Tamakoshi IPO Allotment from today

Kathmandu, June-12 Upper tamakoshi's share the most awaited share in the market will be allotted from today. This allotment is made after SEBON allowed for the allotment of the share.

Upper Tamakoshi had floated Initial Public Offering for the staff of lending institutions from Falgun 11. The IPO was supposed to close on Falgun 25 but it was extended till Chaitra 15.

The IPO had a total collection of Rs 17 arba which is 8 times more than the IPO amount. Due the delay in the allotment 17 arba rupees has been stuck and the investors have not been able to utilize their money.

The 456-megawatt hydropower company has allocated 18,299,520 units to the depositors of the Employee provident fund and 3,049,920 units to the staff of lending institutions and 4,066,560 units to the staffs of Upper tamakoshi and its largest promoter Nepal Electricity Authority.

Upper Tamakoshi Hydropower IPO is managed by Citizen Investment Trust and NCM Merchant Banking.

There is the provision of pay back of the amount after the five working days of the allotment. So the investors will get their invested money back from 3^rd Ashad.