Green Development Bank to re-auction 3.37 lakh units unsold promoter shares; General public can also apply

Green Development Bank has published a notice regarding the re-auction of unclaimed promoter shares. 

As per the notice, the company will auction 3,37,500 units promoter shares from 3rd Ashad to 10th Ashad. General public can also apply for the shares. Interested applicants bid for minimum 1000 units at a price Rs 100 or above. 

Laxmi Capital will be managing the auction.

The forms can be submitted in Laxmi Capital, New Baneshwor, Kathmandu. Or the Head office of Green Development Bank in Baglung. 

The company had floated massive 400% right shares and alloted it on 22nd Chaitra, 2074. The unsold right shares at that time were later auctioned but no applications were received for promoter shares. Thus, they are now to be re-auctioned.  

Green Development Bank has a paid up capital of Rs 10 crores, which will hike to Rs 50 crores after the capitalization of 400% right issue. The development bank will then meet the directive for paid-up capital. Green Development Bank had an EPS of Rs 0.83 as of 3rd quarter 2074/75.