Last day to clinch 400% right shares of Green Development Bank; LTP at Rs 565

Today is the last day to clinch 400% right shares of Green Development Bank Limited (GRDBL). The development bank has set book closure date for 400% right issue on Poush 17, 2074. Thus, only those shareholders holding their shares till today (Poush 16, 2074) i.e. one day ahead of the book closure date are eligible for right shares. The development bank’s 4^th AGM held on Magh 28, 2073 had endorsed 1:4 right shares to their shareholders. GRDBL will be 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 from Magh 2 to Falgun 8, 2074. 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. Laxmi Capital Markets Limited has been assigned as the issue manager for right share issue. ICRA Nepal has assigned an “Grade 5”, to the proposed rights issue of Green Development Bank Limited (GRDBL). It had earned Rs 30.51 lakh in the first quarter of the FY 2074/75. Its LTP stood at Rs 565 as of last trading day.