Green Development Bank to float 4.50 lakh kitta IPO shares from Jestha 23 (coming Sunday); Applicants can apply up to 10,000 Kitta

Green Development Bank Limited will be floating its Initial Public Offering (IPO) of 4, 50,000 unit shares worth Rs 4.50 crore from Jestha 23, 2072. The offer will close on Jestha 26, 2073. The maximum closing date for the offer is Ashad 5, 2073. Interested people must apply for a minimum of 50 units of share and they can apply for up to 10,000 unit of share. The issue manager for the IPO is NIBL Capital Market Limited. The development bank has set aside 9,000 unit shares for its employees and 22,500 unit shares for the 7 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME samriddhi Fund-1. The bank has set aside 4, 18,500 unit share to the general public. 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%. Green Development Bank has earned a net profit of Rs. Rs 1.44 lakh in the second quarter of the fiscal year 2072/73.Its EPS remains at Rs 0.23 and net worth per share at Rs 82.97 . ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed IPO of Green Development Bank. Green Development Bank is 3 districts level development bank. The working area of the bank is located at Baglung, Myagdi and Kaski. It is the first local development bank of Baglung. Collection Centers are: