Locals IPO of Green Ventures and Balephi Hydropower Undersubscribed, Can Applicants Raise Applied Units to Get More Shares?

Green Ventures Limited 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 is on Falgun 16, 2078. If this issue is not fully subscribed till Falgun 16, 2078 then the issue will be extended up to Chaitra 01, 2078.

Applications can be placed for a minimum of 10 units to a maximum of 50,000 units. According to CDSC, 1,372 applicants have applied for a total of 4,60,350 shares. This is the data as of 10: 06 am today. Thus, the issue has only been subscribed 14.73% 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.

Balephi Hydropower Limited has been issuing its 18,27,970 unit IPO shares to the project-affected locals of Sindhupalchowk District from Magh 27, 2078. The early closing date is on Falgun 12. If unsubscribed, the deadline can be extended till Falgun 27, 2078.

According to CDSC, 2,261 applicants have applied for a total of 3,94,060 units. This is the data as of 10: 05 am today. Thus, the issue has only been subscribed 21.55% as of now.

Interested locals can place their applications for a minimum of 10 units and a maximum of 1,00,000 units. Global IME Capital Limited has been appointed as the issue manager for the IPO issuance.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 4+ to this initial public offering (IPO) issue, indicating below-average fundamentals.

Given the Undersubscription, Can Applicants Increase the Applied Units to Get More Shares?

Sharesansar called Laxmi Capital, issue manager for the locals IPO of Green Ventures Limited. The capital informed that the applied units cannot be altered after submitting the physical application form. The issue manager periodically records and forwards the application data to various entities, and changing would mean discrepancy.

Since the system is the same for all IPO issues, it is safe to assume that the units can't be increased for any other local IPO issue. In contrast, for public IPO issues, Meroshare allows the applicant to change the applied units until the application is verified.