Green Ventures Limited, which is issuing primary shares to locals, is set to issue and sell IPOs to the public on Tuesday, April 25. The company is about to issue 31.25 million ordinary shares with a face value of Rs 312.5 million with a face value of Rs 100 per share.
Out of the total lots to be issued, 3 percent or 93,750 shares have been reserved for employees and 5 percent or 156,250 shares have been reserved for collective investment funds.
The remaining 2.875 million lots are about to be sold to the public. Applications for the IPO can be submitted till March 25, but if the demand is not met within that period, the date will be extended till March 30.
The issue and sale manager of the company is Lakshmi Capital Market Limited. Applicants will be required to apply for a minimum of 10 lots of shares and a maximum of 50,000 lots. More than 280,000 people will get 10 lots of shares in this IPO.
Applicants can apply for IPO from all C-ASWA member banks and financial institutions and their branch offices approved by the Nepal Securities Board.
Care Rating Nepal has given Care NP Double B IS rating to the IPA of the company. This indicates a moderate risk in the company’s ability to bear responsibility.