Greenlife Hydropower Limited is going to distribute its share very soon

Greenlife Hydropower Limited closed its IPO issue recently. The hydropower company had opened the issue of 34,96,400 units worth Rs 34.96 crore as Initial Public Offering to the general public from Magh 23, 2077. Out of the offered 34,96,400 units; 69,928 units were set aside for the employees of the company and 1,74,820 units for mutual funds. The remaining 32,51,652 units were for the individual public. BOK Capital is the issue manager for this IPO issue.

According to the issue manager, 13,37,942 applicants applied for a total of 2,39,76,600 units. This is the data reported after issue-close at 5 pm. Thus, the issue is oversubscribed by over 7.37 times. The issue is also oversubscribed in terms of the number of applicants given that only 3,25,165 applicants will get the shares. The lottery is confirmed for 10 units each. Looking at the data, 1 in 4 applicants has the chance to get 10 units.

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According to the issue manager, they are generating reports for the IPO applicants. Since this was a big issue in terms of the volume of applications received, this process has been lengthy. If the pre allotment is completed on time, the issue manager expects to complete the final allotment this Friday, i.e. Falgun 07.

The amount raised by 34,96,400 shares approved for IPO to be issued to the general public makes up 19.42% of the issued capital. 80% of the issued capital is contributed by promoters of the company. The remaining 0.58% of the issued capital was subscribed by the locals of the area in the previous IPO for locals.

The hydropower company has been operating the 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 the general public.