The IPO sold by Greenlife Hydropower to the public will be distributed this week. According to sales manager BOK Capital, the IPO sold to the public is set to be distributed this Friday.
Hydropower’s IPO has received applications from 1,337,942 applicants for the purchase of 2,39,76,600 shares. That’s 7.37 times more than the company’s IPO.
As there are more applications than the demand, the shares will be distributed at the rate of at least 10 lots through the round of issuance as per the Securities Issuance and Distribution Directive.
Accordingly, only 325,165 people will get shares at the rate of 10 lots. Of those who have applied so far, 1 million 12 thousand or 75.7 percent will not get shares.
Greenlife Hydropower had issued 1.86 million shares with a face value of Rs 100 per share and 1,686,400 unsold shares for the locals since January 8, bringing the total number of ordinary shares to 34.96 million.
Out of that, 174,820 shares have been distributed for collective investment funds and 69,928 shares for employees. Out of that, the remaining 32 lakh 51 thousand 652 shares were allotted to the public.