IPO of Green Ventures Limited Oversubscribed Over 1.89 Times on First Day Itself

Green Ventures Limited has opened the IPO issue for 31,25,000 unit shares to the public from today i.e. 8th Chaitra. The issue will close at the early closing date on 11th Chaitra, 2078 since it has been oversubscribed on the first day itself.

31,25,000 shares have been 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 are for mutual funds. The rest 28,75,000 shares are for the individual public.

According to CDSC, 4,32,421 applicants have applied for a total of 54,58,960 units. This is the data as of 5: 02 pm today. Thus, the issue has already been oversubscribed over 1.89 times on the first day itself.

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.

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Green Ventures Limited to Issue 31,25,000 IPO Shares from Today, Here's All You Need to Know About the Company