Green Ventures Limited to Issue 31,25,000 IPO Shares from Today, Here's All You Need to Know About the Company
Tue, Mar 22, 2022 4:46 AM on IPO/FPO News, Stock Market, Latest,
Green Ventures Limited has published an offer letter to issue 31,25,000 unit shares via an Initial Public Offering (IPO). The issue will open from today i.e. 8th Chaitra and closes on 11th Chaitra, 2078. If not subscribed by the early closing date, the deadline can be extended till 22nd Chaitra.
31,25,000 shares will be issued at a par value of Rs. 100 per unit. 3% of the total issue, i.e. 93,750 units have been allocated for employees while 5%, i.e. 1,56,250 units have been allocated for mutual funds. The rest 28,75,000 shares are for the individual public.
The minimum bid quantity is 10 units while the maximum is 50,000 units. Laxmi capital has been appointed as the issue manager for the IPO issuance. 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.
Company Profile:
Green Ventures Ltd (GVL) is a public company, incorporated on December 7, 2004, as a private limited company, later on, February 25, 2019, it was converted to a public limited company. The company has developed a 52.4 MW run-of-river, Likhu-4 Hydropower Project (L4HP) in Okhaldhunga and the Ramechhap district of Nepal. As per the Generation License, from the Government of Nepal – Ministry of Energy, obtained on March 11, 2012, the project shall be handed, on whatever conditions the project is, to the Government of Nepal after the expiry of the Generation License, which is 35 years. As of May 31, 2020, a major shareholder of the company are Mr. Govinda Lal Sanghai (~11%), Mr. Birendra Kumar Sanghai (~10%), Mr. Nitesh Agrawal (~10%) Mr. Ramchandra Sanghai (~8%), and Mr. Aditya Sanghai (~7%).
|
Particulars |
Percentage |
Units |
Amount |
|---|---|---|---|
|
Total Capital |
100% |
31,250,000 |
3,125,000,000 |
|
Total Issue |
20% |
6,250,000 |
625,000,000 |
|
Project-Affected Locals |
10% |
3,125,000 |
312,500,000 |
|
General Public |
10% |
3,125,000 |
312,500,000 |
CARE Rating:
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.
Board Members:
|
Board of Directors |
|
|---|---|
|
Name |
Position |
|
Mr. Subhas Sanghai |
Chairman |
|
Mr. Birendra Kumar Sanghai |
Director |
|
Mr. Govind Lal Sanghai |
Director |
|
Mr. Trilok Chand Agrawal |
Director |
|
Mr. Anuj Agrawal |
Director |
Capital Structure:
|
Authorized Capital |
5,000,000,000 |
|
Issued Capital |
3,125,000,000 |
|
Current Paid-Up Capital |
2,500,000,000 |
|
Capital afer IPO Issuance |
3,125,000,000 |
Shareholding Pattern:
|
Particulars |
Percentage |
Units |
Amount |
Remarks |
|---|---|---|---|---|
|
Promoters |
80% |
25,000,000 |
2,500,000,000 |
Paid |
|
Public (Project Affected) |
10% |
3,125,000 |
312,500,000 |
Issued |
|
Public |
10% |
3,125,000 |
312,500,000 |
To be issued |
|
Total |
100% |
31,250,000 |
3,125,000,000 |
- |
Project Information:
|
Name of Project |
Likhu-IV Hydroelectric Project |
|
Type of project |
Run-of-River |
|
Installed Capacity |
52.4 MW |
|
Generation License received |
28/11/2068 |
|
Generation License Validity |
11/27/2103 |
|
Expected Energy Generation |
230,588,724 |
|
Price per KW (Dry Season) |
8.40/KW |
|
Price per KW (Wet Season) |
4.8/KW |
|
Total Cost (Inc. Interest) |
12,082,849,132 |
Use of Funds collected from IPO
|
S.N |
Particulars |
Amount |
|---|---|---|
|
1 |
Payment of Loan |
625,000,000 |
|
Total |
625,000,000 |
|
Financial Highlights:
|
Particulars |
Actual |
Estimated |
|||||
|---|---|---|---|---|---|---|---|
|
2075/2076 |
2076/2077 |
2077/2078 |
2077/2078* |
2078/2079 |
2079/2080 |
2080/2081 |
|
|
Total Paid-Up Capital ('000) |
1,493,739.00 |
2,057,862.00 |
2,500,000.00 |
2,500,000.00 |
3,125,000.00 |
3,125,000.00 |
3,125,000.00 |
|
Reserve & Surplus ('000) |
-133,416.00 |
-193,612.00 |
-203,379.39 |
-153,127.78 |
103,391.40 |
354,921.26 |
675,881.97 |
|
Debt ('000) |
1,957,284.80 |
4,636,633.53 |
7,638,714.13 |
8,855,758.47 |
9,080,900.00 |
8,718,900.00 |
8,280,700.00 |
|
Revenue from sale of Electricity ('000) |
0.00 |
0.00 |
0.00 |
292,681.26 |
724,986.43 |
995,589.63 |
1,041,489.00 |
|
Net Profit ('000) |
-3,786.94 |
-60,198.93 |
-9,799.85 |
50,264.97 |
103,391.40 |
251,529.86 |
320,960.70 |
|
Earnings per share (Rs.) |
-0.25 |
-2.93 |
-0.39 |
2.01 |
3.31 |
8.05 |
10.27 |
|
Net worth per share (Rs.) |
91.07 |
90.59 |
91.86 |
93.87 |
103.31 |
111.36 |
121.63 |
|
Debt-Equity (times) |
1.44 |
2.49 |
3.33 |
3.77 |
2.81 |
2.51 |
2.18 |
|
Return on Equity (%) |
-0.28% |
-3.23% |
-0.43% |
2.14% |
3.20% |
7.23% |
8.44% |
