First Business News Portal in English from Nepal
KATHMANDU: Green Ventures Limited has published an offer letter to issue 31,25,000 unit shares via an Initial Public Offering (IPO). The issue will open from today i.e. 8th Chaitra and closes on 11th Chaitra, 2078. If not subscribed by the early closing date, the deadline can be extended till 22nd Chaitra.
31,25,000 shares will be issued at a par value of Rs. 100 per unit. 3% of the total issue, i.e. 93,750 units have been allocated for employees while 5%, i.e. 1,56,250 units have been allocated for mutual funds. The rest 28,75,000 shares are for the individual public.
The minimum bid quantity is 10 units while the maximum is 50,000 units. Laxmi capital has been appointed as the issue manager for the IPO issuance. CARE Ratings Nepal Limited (CRNL) has rated [CARE-NP BB(Is) [Double B (Issuer Rating)] indicating a moderate risk of default regarding timely servicing of financial obligations.
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