The Securities Board of Nepal (SEBON) has given its approval for Upper Tamakoshi Hydropower Limited (UPPER) to issue 100% right shares. The company plans to issue shares worth NPR 10.59 Arba, equivalent to 105,900,000 units of right shares on a 1:1 basis to its existing shareholders. The application for this proposal was submitted to SEBON on Falgun 18, 2079.
Once the proposed right shares are adjusted, the paid-up capital of Upper Tamakoshi Hydropower Limited will increase to NPR 21.18 Arba. Sunrise Capital has been appointed as the issue manager for this process.
Upper Tamakoshi Hydropower Limited operates the 456-MW Upper Tamakoshi Hydroelectric Project in the Dolkha district of Bagmati Province, Nepal. As of mid-July 2022, the company’s paid-up capital stands at NPR 10,590 million, with 51% held by promoters and 49% held by the public. The project, which is the largest operational project in Nepal, is of the peaking run-of-the-river (PROR) type, with a peaking capacity of four hours, developed at a 32% probability of exceedance (Q32).
