Green Development Bank announces auction for its unsold right shares; Auction opens from Jestha 10

Green Development Bank Limited (GRDBL) has announced auction for its unsold 6,52,297 unit right shares. The auction will start from Jestha 10 and end on Jestha 17, 2075.

The development bank had issued 400% right shares amounting to Rs 40 crore to the shareholders holding shares before the book closure on Poush 17, 2074. The development bank had allotted 33,47,703 unit right shares to its shareholders on Chaitra 22, 2074.

3,37,500 unit right shares from the promoters group and 3,13,713 unit right shares from the ordinary shares group are available in the auction. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.Interested bidders must bid for a minimum of 1000 units of shares for the promoter shares group and minimum 100 shares for the ordinary shares group. Only the existing promoters of the company can apply for the right shares of promoter shares group.

Laxmi Capital Limited has been appointed as the issue manager for the auction. Interested bidders can collect bid forms from Laxmi Capital Limited, designated branches of Laxmi Bank Limited or from the designated branches of Green Development Bank Limited (for ordinanry right shares) and from Laxmi Capital Limited or from the designated branches of Green Development Bank Limited (for promoter right shares)  .

The bank has urged the bidders to deposit the bid amount in the A/c Number 00534010672 of Laxmi Bank Limited in the name of Laxmi Capital Limited or A/C no 00121200004942000001 of Green Development Bank in the name of Laxmi Capital Limited. The bidders can also apply using Good for Payment Cheque.

GRDBL’s current paid-up capital remains at Rs 10 crore. After the rights issue, its paid-up capital will reach Rs 50 crore with promoter and general public shareholding at 55% and 45%. As a 1-3 district level development bank to meet the capital requirement as directed by the Nepal Rastra Bank, it should hike its paid-up capital to Rs 50 crore.