Upper Tamakoshi refunding excess money from today; Investors requested to visit respective collection centers

IPOJune 17: Upper Tamakoshi Hydropower Limited (UTKHPL) will be refunding excess money collected from investors as part of its initial public offering (IPO) from Ashad 2(Today).

The company has urged the investors to visit their respective collection centers with receipt to collect their IPO allotment advice slip and account payee cheque  in their name.

They need to bring their receipt with a copy of citizenship or authorization letter to collect their payment slip.

The IPO had a total collection of Rs 19.95 arba which is almost 8 times more than the IPO amount i.e. Rs 2.54 arba. Due to the delay in the allotment, 17.41 arba rupees were stuck with both the issue managers Citizen Investment Trust (CIT) and NCM Merchant Banking Limited (NCM).

In total there were 2,08,041 applicants including all the Provident fund depositors, different lending institutions and its employees. 52 applicant forms got disqualified for not complying with the norms, said one of the official of CIT.

There were18,299,520 units share have been allotted to 1,91,959 depositors of Employees Provident Fund (EPF).

Depositors of Employees Provident Fund who applied for shares worth Rs 5 Lakhs were allotted 293 units share i.e. 5.86% of the total investment. Whereas, depositors who applied for shares worth Rs 5 thousand were allotted 50 units share i.e. 100% of the total investment.  The depositors who applied for Rs 1 lakh were allotted 97 units, 2 lakhs were allotted 146 units share, 3 lakhs were allotted 195 units shares and 4 Lakhs were allotted 243 unit shares.

4,066,560 units share have been allotted to 9,754 staffs of UTKHPL and its largest promoter Nepal Electricity Authority (NEA). 9,14,976 units share have been allotted to the 5,550 staffs of Nepal Telecom Company Limited (NTC), whereas, 15,24,960 units have been allotted to 480 staffs of Employees Provident Fund (EPF).  Also, 3,04,992 units share have been allotted to 191 staffs of Rastriya Beema Sansthan and 3,04,992 units share have also been allotted to the 107 staffs of Citizens Investment Trust (CIT).

Source : ShareSansar