Green Development Bank gearing up to offer IPO worth Rs 4.5 Crore

Green Development Bank, a 3 districts level development bank has proposed Initial Public Offering (IPO) worth Rs 4.5 crore.The bank has authorization to operate in Baglung, Kaski and Myagdi districts. It is currently operational in Baglung and Myagdi districts. The bank has filed required paperwork with SEBON for approval on Bhadra 21, 2072. Green Dev Bank is proposing to come out with its IPO of 450,000 units of equity shares of face value Rs 100/- each to be issued to general public at par. NIBL Capital Market Limited is the issue manager of this IPO. It has a paid up capital of Rs 5.5 crore. After the IPO the paid up capital will be Rs 10 crore. The authorize capital is Rs 32 crore. It has net loss of Rs 26 lakh . It has mobilized deposits of Rs 25 crore with loan and advances of Rs 20.42 crore. The dev bank’s Capital Adequacy Ratio stands at 19.04% and CD Ratio stands at 69.77% as per Q4 of last fiscal year.