Green Ventures Limited has opened the sale of ordinary shares to the public. The company has opened a sale of 31.25 million units of initial public offering (IPO) worth Rs. 312.5 million at a face value of Rs. 100 per unit from today.
The general public can apply for the purchase of the remaining 2.875 million shares by securing five per cent of the total issuance or 156,250 shares to the collective investment fund and three per cent or 93,750 shares to the employees.
The general public will be able to apply for a minimum of 10 lots and a maximum of 50,000 lots till April 25. If the demand is not received by that time, the eviction will be open till April 30, the company said.
Laxmi Capital Market Limited, the manager of securities issuance and sales of the company, said that the public can apply for purchase of shares by using 'Meroshare' online from banks and financial institutions and their branch offices which have been given permission by Nepal Securities Board to provide CISWA facility.
The company is currently constructing Likhu-4 Hydropower Project with a total capacity of 52.4 MW centred in Wards 1 and 3 of Khijidemba Municipality of Okhaldhunga District and Ward 7 of Umakunda Municipality of Ramechhap District. The company has stated that the total estimated cost of the project will be Rs. 12 billion 80 million.
The authorized capital of the company is Rs. 5 billion and the current issued capital is Rs. 3.125 billion and the paid-up capital from the founder is Rs. 2.5 billion. The company's paid-up capital will reach Rs. Earlier, the company had stated that the sale of 3.125 million shares had been opened to the locals from February 2 to 20.
Care Rating Nepal has given the company 'CareNP BB' grading in the rating system as per the provision of credit rating during the public issues of securities.
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