Proposed IPO issue of Greenlife Hydropower for the general public added to SEBON’s pipeline; company to soon issue 34.96 Lakh units of shares

Sun, Apr 28, 2019 1:38 PM on IPO/FPO News, Latest, Stock Market,
Proposed I...

Securities Exchange Board of Nepal (SEBON) has added proposed IPO issue of Greenlife Hydropower Limited under preliminary review as per the latest list of pipeline issues published by the board.

Greenlife Hydropower Limited’s 3,496,400 unit shares (including 16.96 Lakh units unsubscribed by locals) for the general public have been added for approval. The hydropower company is looking to raise capital worth Rs.34.96 Crore through issue of shares at par.

BOK Capital Market Limited has been appointed as the issue manager for the issuance of IPO.

Greenlife Hydropower Limited had closed its Initial Public Offering (IPO) issue of 1,800,000 units of shares for the locals of Dolkha district on Falgun 27, 2075. A total of 1,216 applicants had been allotted 103,600 units of share. Roughly 94% of the issue for locals remained unsubscribed.

The hydropower company has been operating Khani Khola 1 Hydropower Project in Marbu VDC of Dolakha District.

Currently, the paid up capital of the hydropower company stands at Rs.1.44 Arba which will reach Rs.1.80 Arba after issuance of IPO to both locals and general public. With this, the promoter-public shareholding ratio will be maintained at 80:20.