Capital Plan of Green Development Bank; 1:4 (40 lakh units) Right Share in FY 2073/74

Nepal Rastra Bank’s (NRB) Monetary Policy has directed three districts development bank to maintain it’s paid up capital up to Rs 50 crore for the FY 2073/74. Green Development Bank Limited has published its capital plan for the FY 2073/74. The development bank proposes to exercise below mentioned options to raise its paid up capital to NPR 50 crore within stipulated time frame by Ashad 2074. Green Development Bank had paid up capital of Rs 5.50 crore in the fiscal year 2071/72. The development bank had floated Initial Public Offering (IPO) of 4, 50,000 unit shares worth Rs 4.50 crore from Jestha 23, 2072 till Jestha 26, 2073. At present the company has paid up capital of Rs 10 crore after issuance of Rs 4.50 crore public shares. In the FY 2073/74, the development bank will issue 1:4 (40 lakh unit shares worth Rs 40 crore) to its shareholders. With this, the paid up capital will reach to Rs 50 crore and the 3 district development bank will meet NRB requirement. Green Development Bank had earned Rs 11.59 lakh in fourth quarter of the last fiscal year 2072/73.