Deadline Extended for Locals IPO of Green Ventures Limited, Issue Subscribed 65.59% Till Now

Green Ventures Limited has extended the deadline for its locals' IPO issue to Falgun 23.

The company has been issuing 31,25,000 units of ordinary shares worth Rs. 31.25 crores to the project affected locals from Falgun 02, 2078. The early closing date of this IPO issue was today, i.e. on Falgun 16, 2078. Since the issue hasn't been fully subscribed by now, the deadline has been extended.

Applications can be placed for a minimum of 10 units to a maximum of 50,000 units. According to CDSC, 4,802 applicants have applied for a total of 20,49,930 shares. This is the data as of 10: 07 am today. Thus, the issue has only been subscribed 65.59% as of now.

Laxmi Capital Market Limited has been appointed the issue manager. CARE Ratings Nepal Limited (CRNL) has rated [CARE-NP BB(Is) [Double B (Issuer Rating)] indicating a moderate risk of default regarding timely servicing of financial obligations.