Green Life Hydropower to issue IPO from February 5

Jan 24, 2021 09:42 AM Merolagani

Green Life Hydropower is issuing an initial public offering (IPO) from February 5.

The hydropower company is issuing 3,496,400 units of ordinary shares including 1,696,400 unsold units issued to locals of the affected area. Out of the total offered shares, 174,820 units have been allocated to mutual funds and 69,928 units to employees. The general public can apply for the remaining 3,251,652 units of shares.

The company has appointed Sanima Capital as its issue manager. The interested investors can apply from all C-ASBA approved BFIs and meroshare. They can apply for a minimum of 10 and maximum of 100,000 units of shares.

Care Ratings has assigned B+(Is) rating to the issue indicating high risk of default regarding timely servicing of financial obligations.

 

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