Kathmandu. Green Life Hydropower Limited's IPO has received 1,337,942 applications till 5 pm on the last day. According to CDS and Clearing Limited, purchase applications have been received from these applicants for 2,39,76,600 lots. Which is 7.37 times more than the demand.

Out of the total, 1,74,820 shares have been allotted for collective investment fund and 69,928 shares have been distributed among the employees of the company and the remaining shares have been issued to the public. It was possible to apply for IPO purchase from a minimum of 10 lots to a maximum of 100,000 lots.

The company's IPO has been given Care NPB Plus (IS) rating by Care Rating Nepal. The rating indicates that the issuing company is at high risk to meet its financial obligations. The company had received approval from the Nepal Securities Board on January 22 to sell the IPO.

Currently, the company's paid-up capital is Rs. 1.44 billion. After selling the shares to the public, the company's paid-up capital increased to Rs. 1.80 billion. The authorized capital of the company is Rs. 2.5 billion. The company is operating Khanikhola 1 Hydropower Project.