IPO Allotment Of Green Ventures Limited Concludes [IPO Result]
April 3, 2022 | Investopaper
Green Ventures Limited IPO Allotment
Laxmi Capital Limited, the issue manager for the initial public offering (IPO) of Green Ventures Limited, has concluded the IPO allotment process on Sunday.
After the allotment, 287,500 applicants received 10 shares each. A total of 21,11,649 people had applied for the shares. Of them, 5,133 applications were disqualified with 21,06,516 eligible applicants. With the allotment, more than 18.19 lakh applicants were left empty-handed.
To view the IPO result of Green Ventures Limited, click the link below:
IPO Result Of Green Ventures Limited
IPO To General Public
Green Ventures Limited sold shares to the general public (IPO) from Chaitra 8, 2078 BS. After floating the shares to the locals of the project affected areas, the company issued 31,25,000 shares to the general public.
Due to full subscription of shares, the IPO was closed on Chaitra 11, 2078 BS.
Out of the total 31,25,000 shares, 93,750 units are reserved for the employees of the company. Likewise, 1,56,250 units are allotted to the mutual fund schemes. Hence, the general public participated in the remaining 28,75,000 shares.
Interested investors could apply for a minimum of 10 shares and a maximum of 50,000 shares.
IPO To Locals
In the first phase, the company floated 31.25 lakh shares to the locals of the project affected areas at a par value of Rs 100. The IPO to locals was open from Falgun 2, 2078 BS. The issue was set to close on Falgun 16, 2078 BS. Due to undersubscription until that period, the deadline for application was extended until Falgun 23, 2078 BS. Since, the IPO received full application for the shares during that period, the issue was closed on Falgun 20, 2078 BS.
The locals of Khijidemba Rural Municipality-1, Okhaldunga, Khijidemba Rural Municipality-2, Okhaldunga, Khijidemba Rural Municipality-3, Okhaldunga, Likhu Rural Municipality-9, Okhaldunga, Likhu Tamakoshi Rural Municipality-1, Ramechhap, Likhu Tamakoshi Rural Municipality-2, Ramechhap, Umakunda Rural Municipality-7, Ramechhap could participate in the public offering.
The total issued capital of the company is Rs 3.12 Arba. Out of this, the company is planning to sell 62.50 lakh shares to the locals of the project affected area, the general public, mutual fund schemes, and the employees of the company.
Securities Board Of Nepal (SEBON) had provided the approval to the company on Falgun 28, 2077 BS for IPO issuance.
The company has appointed Laxmi Capital Market Limited as the issue manager for the IPO. Both the companies have already signed an agreement to issue the shares. The agreement was signed by Rajiv Sapkota, Chief Executive Officer of Laxmi Capital, and Subhash Chandra Sanghai, Chairman of Green Ventures Limited.
Similarly, the company has appointed Citizens Investment Trust (CIT) as the underwriter in the public offering. If the shares are not fully subscribed during the offering, CIT will buy the remaining unsold shares. An agreement was reached between Executive Director Raman Nepal on behalf of CIT and Anil Agrawal on behalf of Green Ventures on December 15 (Mangsir 30).
Green Ventures Limited is developing a project with an installed capacity of 52.4 MW from Likhu Khola, which is the border of the Ramechhap and Okhaldhunga districts.
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How can i know that i got the share of green venture as a local invester..?
Or when green venture ipo results come for local investor…?
Kina show nabayeko green venture ipo result my share ma any idea?