Green Development Bank, Kisan Microfinance & Mount Makalu Dev. Bank in SEBON pipeline to request right share approval

Green Development Bank Limited (GRDBL), Kisan Microfinance Bittiya Sanstha Limited (KMFL) and Mount Makalu development Bank Limited (MMDBL) have applied in Securities Board of Nepal (SEBON) for the issuance of right share. Green Development Bank Limted is seeking approval to issue 4,000,000 units shares in the ratio 1:4 (400%) to be floated a face value of Rs 100 per share.  The development bank’s 4^th AGM held on Magh 28, 2073 had endorsed 1:4 right shares to their shareholders. Laxmi Capital Markets Limited has been appointed as the issue manager. GRDBL has a paid up capital of Rs 10 crore at present. After issuance of 400% right share, its paid up capital will reach to Rs 50 crore. Nepal Rastra Bank’s (NRB) Monetary Policy has directed 1-3 district level development banks to maintain their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, and after the issuance of 400% right share, the 3-district level development bank will meet NRB’s requirement. Likewise, Kisan Microfinance Bittiya Sanstha Limited will be issuing 78,000 units shares in the ratio 100:24.22 (24.22%) to be floated a face value of Rs 100 per share. Civil Capital Market Limited has been appointed as the issue manager. KMFL has a paid up capital of Rs 3.22 crore at present. After issuance of 24.22% right share, its paid up capital will reach to Rs 4 crore. Kisan Microfinance has earned net profit of Rs 1.29 crore in the third quarter of the fiscal year 2073/74 as per unaudited report. Similarly, Mount Makalu Development Bank Limited will be issuing 3,45,800 units shares in the ratio 2:1 (50%) to be floated a face value of Rs 100 per share. The development bank’s 6^th  AGM held on Falgun 25, 2073 had endorsed 50% right shares to their shareholders. NIBL Capital Markets Limited has been appointed as the issue manager. MMDBL has a paid up capital of Rs 6.91 crore at present. After issuance of 50% right share, its paid up capital will reach to Rs 10.37 crore. As a 1 district-level development bank (based in Tehrathum), it will need to increase its paid up capital to Rs 50 crore by the end of FY 2073/74.