Green Development Bank extended 400% right share issue till Falgun 23; Laxmi Capital manages the issue

Green Development Bank Limited (GRDBL) has extended 400% right share issue date to its shareholders till Falgun 23, 2074. As per the notice published by the development bank today, now the shareholders have 15 more days to submit their application. Previously, the deadline was set till today (Falgun 8, 2074). The rights issue was open for 35 days from Magh 2, 2074. GRDBL has been issuing 4,000,000 units shares worth Rs 40 crore at the face value of Rs 100 each to be issued to the existing shareholders at par. The book closure date for the rights issue was set for Poush 17, 2074. Hence, only those shareholders that have shares traded before Poush 16, 2074 (Sunday) are eligible to apply for the right shares. Laxmi Capital Market Limited is the appointed issue manager. Applicants can apply for the rights issue by collecting application forms from Laxmi Capital Market, New Baneshwor, NIBL Capital Markets, Lazimpat, designated branches of Green Development Bank and Laxmi Bank, and also from all ASBA-approved banks and financial institutions all around the country. 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. It had posted net loss of Rs 21.35 lakh in the first quarter of FY 2074/75. Offer Letter