How Many Have Applied for IPO of Greenlife Hydropower Till Now? Tomorrow is the Last Day
Mon, Feb 8, 2021 5:05 PM on IPO/FPO News, Highlight News,
Greenlife Hydropower Limited has 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. Since the issue is already fully subscribed, it will close tomorrow, i.e. on Magh 27.
Greenlife Hydropower Limited had closed its IPO issue of 1,800,000 units of shares for the locals of the Dolkha district on Falgun 27, 2075. This IPO issue had opened on Magh 22, 2075. 94% of the shares meant for locals were left unsubscribed. All the 1,216 applicants were allotted a total of 103,600 units of shares. Thus, the remaining 16,96,400 shares are also included in the 34,96,400 unit shares about to be open for application by the general public.
Out of the offered 34,96,400 units; 69,928 units have been set aside for the employees of the company and 1,74,820 units have been set aside for the mutual funds. The remaining 32,51,652 units are for the individual public. BOK Capital is the issue manager for this IPO issue. Applicants can apply for a minimum of 10 units and a maximum of 1,00,000 units.
According to the issue manager, 10,91,251 applicants have applied for a total of 1,98,61,710 units. This is the data as of 5 pm today. Thus, the issue is oversubscribed by over 6.1 times. The issue is also oversubscribed in terms of the number of applicants given that only 3,25,165 applicants will get the shares. Thus, investors who haven’t submitted their applications till now can only apply for 10 units. The lottery is confirmed for 10 units each.
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.