All 1,216 applicants of Greenlife Hydropower IPO for locals fully allotted shares; unsubscribed 94% of issue to be added to IPO for general public

Sun, Mar 31, 2019 5:25 PM on IPO/FPO Result News, Latest, Share Allotment,
All 1,216...

BOK Capital Market Limited (former Kathmandu Capital Market Limited), issue manager of Greenlife Hydropower Limited IPO has concluded the allotment process of the issue for locals.

Greenlife Hydropower Limited had closed its Initial Public Offering (IPO) issue of 1,800,000 units of shares for the locals of Dolkha district on Falgun 27, 2075. This IPO issue was opened from Magh 22, 2075.

Category A

The hydropower company was issuing 30% i.e. 540,000 units for the locals of Gaurishankar Rural Municipality ward no. 7. From this category, 302 applicants had applied for 25,380 units of shares. All the applicants have been fully allotted shares.

Category B

40% i.e. 7,20,000 units was for the locals of Gaurishankar Rural Municipality ward no. 5, ward no. 6, ward no. 8 and 9. A total of 598 applicants had applied for 59,400 units of shares from this category. All applicants from this category have been fully allotted shares

Category C

The remaining 30% i.e. 540,000 units was for the locals of Gaurishankar Village Municipality ward no 1 and 2 and ward no 3 and 4 along with locals of Bigu Village Municipality ward no 4. 316 applicants had applied for 18,820 units of shares from this category. All the applicants have been fully allotted shares.

Since the issue remained undersubscribed, all the 1,216 applicants have been allotted a total of 103,600 units of shares. Remaining 1,696,400 unsubscribed units of shares will be added to the total issue for the general public.

The hydropower company has been operating Khani Khola 1 Hydropower Project in Marbu VDC of Dolakha District. The hydropower company will be issuing 18 lakh unit along with 16.96 Lakh units of shares, unsubscribed by the locals, as IPO for the general public as well.

Currently, the paid up capital of the hydropower company stands at Rs.1.44 Arba which will reach Rs.1.80 Arba after issuance of IPO to both locals and general public. With this, the promoter-public shareholding ratio will be maintained at 80:20.