IPO Allotment on Sunday: Green Ventures Limited

The IPO allotment program of Green Ventures Limited will be held coming Sunday, i.e. on Chaitra 20. The program will commence at 8: 30 am at the premises of the issue manager Laxmi Capital that day.

The company opened its IPO issue for 31,25,000 unit shares to the public on 8th Chaitra. The issue closed at the early closing date on 11th Chaitra, 2078 since it was oversubscribed on the first day itself.

31,25,000 shares were issued at a par value of Rs. 100 per unit. 3% of the total issue, i.e. 93,750 units were allocated for employees while 5%, i.e. 1,56,250 units for mutual funds. The rest 28,75,000 shares are for the individual public.

According to CDSC, 21,11,649 applicants have applied for a total of 2,43,51,880 units. Thus, the issue has been oversubscribed over 8.47 times.

Only 2,87,500 applicants will be allotted 10 shares each. Looking at the number of applicants, it is apparent that only one in seven will get 10 shares each.

CARE Ratings Nepal Limited (CRNL) had rated the issue [CARE-NP BB(Is) [Double B (Issuer Rating)], indicating a moderate risk of default regarding timely servicing of financial obligations.