Green Ventures IPO allotment, more than 1.8 million applicants empty handed

Apr Sun 2022 04:12:27

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Green Ventures IPO allotment, more than 1.8 million applicants empty handed

Kathmandu. The IPO of Green Ventures Limited has been allotted on Sunday morning. In the distribution held at the office of Sales Manager Laxmi Capital in Baneshwor, Kathmandu, 2,87,500 lucky applicants received shares at the rate of 10 lots.

According to the sales manager, a total of 2,111,649 people had applied for 2,43,51,880 shares for the IPO. Applications for 74,880 lots of 5,133 people have been canceled. Eligible 21 lakh 6 thousand 516 applicants were made to participate in the distribution through round robin. Among the eligible applicants, 1.8 million 19 thousand 16 have been vacated.

The company had sold the IPO to the public from March 26 to March 30. The company has distributed 2.87 million shares sold through public issue. The company has allotted a total of 3.125 million shares to the public. Out of the total shares, 5 percent or 156,250 shares have been distributed for collective investment funds and 3 percent or 93,750 shares have been reserved for the employees.

The company distributed shares in the project-affected locality in the first phase and sold the shares to the public in the second phase. Earlier, the company had sold 31.25 lakh shares in the locality from March 2 to 20 and distributed all the shares to all the applicants on March 12. Currently, the paid up capital of the company is Rs. 2.5 billion. 80 percent of the shares have been paid by the founder. 10 percent to the general public including collective investment fund and staff and Rs. After 10 percent share allotment, this capital will be Rs. 3.12 billion.