The IPO allotment of Greenlife Hydropower Limited is concluded today at the premises of BOK Capital Market Limited. Green Life Hydropower Ltd. was established in 2009 to develop, construct and operate power projects in Nepal. The power crisis that has been rampant for the past decade in the country has crippled lives and businesses alike and as a goal Green Life Hydropower Ltd. will contribute to alleviating the power situation in the country.
Greenlife Hydropower Limited has issued 4,96,400 units worth Rs 34.96 crore as Initial Public Offering to the general public from (Magh 23- Magh 27, 2077).
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 general public.
The issue had received applications from 13,19,059 valid applicants who had applied for a total of 2,26,33,170 units. The issue was oversubscribed more than 6.98 times.
As per the allotment module, a total of 3,25,165 applicants were allotted 10 units each via lottery and lucky 2 investors get 1 unit extra, and the remaining 9,93,894 applicants were returned empty hands.
A total of 69,928 units were allotted to the staff of the company and 1,74,820 units allotted to mutual funds.
In total 3,912 applicants who applied for 58,320 units were disqualified.
The IPO result can be accessed by sharesansar.com- IPO result page soon.
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.
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.
The hydropower company has been operating Khani Khola 1 Hydropower Project in Marbu VDC of Dolakha District.