Green Dev. Bank refunding IPO non-allottees from today; applicants having A/C in Nepal Investment & Green Dev. Bank to get refund in respective A/C

Green Development Bank Limited is refunding excess money collected from investors from today (Shrawan 3, 2073). It had floated 4.50 lakh unit shares as part of its IPO shares. The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves. Applicants who had provided their account number of Nepal Investment Bank & Green Development Bank will get their refund money directly deposited in their respective accounts. NIBL Capital Limited was the issue manager for the IPO. Allotment for investors who had applied from Rs 5000 or 50 units to Rs 90,000 or 900 units shares was decided through lottery and investors who had applied for Rs 91,000 or  910 units to Rs 10,00,000 or  10,000 units  who applied were allotted 1.1 % on pro-rata basis. Of the total 101,231 applicants’ only 27,506 investors got the shares including 6 mutual fund and staffs. There were only 75 invalid applicants. The bank plans to raise Rs 4.50 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 5.50 crore. The bank has authorized capital of Rs 50 crore. After the IPO, the promoter-public ratio of the company will be 55 % to 45%.