IPO of Green Ventures Oversubscribed Over 6.79 Times, Issue Closing Tomorrow

Green Ventures Limited has opened the IPO issue for 31,25,000 unit shares to the public from 8th Chaitra. The issue will close at the early closing date tomorrow, i.e. on 11th Chaitra, 2078 since it was 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, 15,92,763 applicants have applied for a total of 1,95,34,570 units. This is the data as of 5: 03 pm today. Thus, the issue has already been oversubscribed over 6.79 times on the third 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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