IPO Opens From Today For Project Affected Locals Of Green Ventures Limited; Here Are Few Things You Should Know About The Company
Mon, Feb 14, 2022 6:12 AM on IPO/FPO News, Company Analysis, Latest, Exclusive,
Company Profile:
Green Ventures Ltd (GVL) is a public company, incorporated on December 7, 2004, as a private limited company, later on, February 25, 2019, it was converted to a public limited company. The company has developed a 52.4 MW run-of-river, Likhu-4 Hydropower Project (L4HP) in Okhaldhunga and the Ramechhap district of Nepal. As per the Generation License, from the Government of Nepal – Ministry of Energy, obtained on March 11, 2012, the project shall be handed, on whatever conditions the project is, to the Government of Nepal after the expiry of the Generation License, which is 35 years. As of May 31, 2020, a major shareholders of the company are Mr. Govinda Lal Sanghai (~11%), Mr. Birendra Kumar Sanghai (~10%), Mr. Nitesh Agrawal (~10%) Mr. Ramchandra Sanghai (~8%), and Mr. Aditya Sanghai (~7%).
About the Issue:
Green Ventures Limited is issuing 3,125,000 units of ordinary shares worth Rs. 31.25 crores to the project affected locals from Falgun 02, 2078. The early closing date of this IPO issue is on Falgun 16, 2078. If this issue is not fully subscribed till Falgun 16, 2078 then the issue will be extended up to Chaitra 01, 2078.
Applications can be placed for a minimum of 10 units to a maximum of 50,000 units.
Laxmi Capital Market Limited has been appointed as the issue manager.
|
Particulars |
Percentage |
Units |
Amount |
|---|---|---|---|
|
Total Capital |
100% |
31,250,000 |
3,125,000,000 |
|
Total Issue |
20% |
6,250,000 |
625,000,000 |
|
Project-Affected Locals |
10% |
3,125,000 |
312,500,000 |
|
General Public |
10% |
3,125,000 |
312,500,000 |
|
Issue Manager |
Laxmi Capital Market Limited |
||
|
Issue Open Date |
Falgun 02, 2078 |
||
|
Issue Closing Date (Earliest) |
Falgun 16, 2078 |
||
|
Issue Closing Date (Late) |
Chaitra 01, 2078 |
||
|
Minimum Application |
10 |
||
|
Maximum Application |
50,000 |
CARE Rating:
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.
Board Members:
|
Board of Directors |
|
|---|---|
|
Name |
Position |
|
Mr. Subhas Sanghai |
Chairman |
|
Mr. Birendra Kumar Sanghai |
Director |
|
Mr. Govind Lal Sanghai |
Director |
|
Mr. Trilok Chand Agrawal |
Director |
|
Mr. Anuj Agrawal |
Director |
Capital Structure:
|
Authorized Capital |
5,000,000,000 |
|
Issued Capital |
3,125,000,000 |
|
Current Paid-Up Capital |
2,500,000,000 |
|
Capital afer IPO Issuance |
3,125,000,000 |
Shareholding Pattern:
|
Particulars |
Percentage |
Units |
Amount |
Remarks |
|---|---|---|---|---|
|
Promoters |
80% |
25,000,000 |
2,500,000,000 |
Paid |
|
Public (Project Affected) |
10% |
3,125,000 |
312,500,000 |
To be issued |
|
Public |
10% |
3,125,000 |
312,500,000 |
To be issued |
|
Total |
100% |
31,250,000 |
3,125,000,000 |
- |
Project Information:
|
Name of Project |
Likhu-IV Hydroelectric Project |
|
Type of project |
Run-of-River |
|
Installed Capacity |
52.4 MW |
|
Generation License received |
28/11/2068 |
|
Generation License Validity |
11/27/2103 |
|
Expected Energy Generation |
230,588,724 |
|
Price per KW (Dry Season) |
8.40/KW |
|
Price per KW (Wet Season) |
4.8/KW |
|
Total Cost (Inc. Interest) |
12,082,849,132 |
Use of Funds collected from IPO
|
S.N |
Particulars |
Amount |
|---|---|---|
|
1 |
Payment of Loan |
625,000,000 |
|
Total |
625,000,000 |
|
Financial Highlights:
|
Particulars |
Actual |
Estimated |
|||||
|---|---|---|---|---|---|---|---|
|
2075/2076 |
2076/2077 |
2077/2078 |
2077/2078* |
2078/2079 |
2079/2080 |
2080/2081 |
|
|
Total Paid-Up Capital ('000) |
1,493,739.00 |
2,057,862.00 |
2,500,000.00 |
2,500,000.00 |
3,125,000.00 |
3,125,000.00 |
3,125,000.00 |
|
Reserve & Surplus ('000) |
-133,416.00 |
-193,612.00 |
-203,379.39 |
-153,127.78 |
103,391.40 |
354,921.26 |
675,881.97 |
|
Debt ('000) |
1,957,284.80 |
4,636,633.53 |
7,638,714.13 |
8,855,758.47 |
9,080,900.00 |
8,718,900.00 |
8,280,700.00 |
|
Revenue from sale of Electricity ('000) |
0.00 |
0.00 |
0.00 |
292,681.26 |
724,986.43 |
995,589.63 |
1,041,489.00 |
|
Net Profit ('000) |
-3,786.94 |
-60,198.93 |
-9,799.85 |
50,264.97 |
103,391.40 |
251,529.86 |
320,960.70 |
|
Earnings per share (Rs.) |
-0.25 |
-2.93 |
-0.39 |
2.01 |
3.31 |
8.05 |
10.27 |
|
Net worth per share (Rs.) |
91.07 |
90.59 |
91.86 |
93.87 |
103.31 |
111.36 |
121.63 |
|
Debt-Equity (times) |
1.44 |
2.49 |
3.33 |
3.77 |
2.81 |
2.51 |
2.18 |
|
Return on Equity (%) |
-0.28% |
-3.23% |
-0.43% |
2.14% |
3.20% |
7.23% |
8.44% |
