07/06/2025
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The Gelephu Mindfulness City and the Gelephu Investment and Development Corporation are proud to announce the extraordinary success of the Gelephu Mindfulness City Nation Building Bond (GNBB)—a landmark initiative that united the Bhutanese people in one of the most inclusive and symbolic financial undertakings in the nation’s history.
Originally launched with a target of Nu. 2 billion, the GNBB was oversubscribed within its initial subscription window, prompting an extension to accommodate the overwhelming demand. By the close of the offering, a total of Nu. 3.347 billion had been raised from 35,403 Bhutanese retail investors, making it the most widely subscribed debt issuance in Bhutan to date.
More than a financial instrument, the GNBB became a reflection of the Bhutanese people’s confidence in the country’s future. From all corners of the nation, individuals—many participating for the first time in any capital market instrument—answered the call to invest in a shared national vision. Their participation symbolized more than economic engagement; it was an act of trust, solidarity, and service.
The proceeds from the GNBB will fund the development of the Gelephu International Airport, a transformative project at the heart of the Gelephu Mindfulness City and an emblem of Bhutan’s aspirations to become an important connection between South Asia and the world. The airport is a critical step in turning His Majesty’s vision for GMC into a reality grounded in sustainability, innovation, and Bhutanese identity.
Milestones of the GNBB include:
• Over 35,000 Bhutanese investors from every dzongkhag subscribed to the bond—surpassing all previous participation records in Bhutan’s capital markets.
• Nu. 3.347 billion raised, making it one of the largest retail-driven debt mobilizations in the country’s history.
• First-ever use of RSEBL’s online subscription platform integrated with the National Digital Identity (NDI), enabling over 18,000 first-time investors to participate digitally—an unprecedented leap for financial inclusion.
• Listed on the Royal Securities Exchange of Bhutan, with trading to commence after one year from allotment and a five-year lock-in period.
With an annual coupon rate of 10%, a 10-year term, and tax-exempt interest, the GNBB offered a meaningful way for Bhutanese individuals to contribute directly to long-term national development—financially and symbolically. The bond is now officially listed on the Royal Securities Exchange of Bhutan (RSEBL), enabling future tradability and creating a new benchmark for citizen participation in Bhutan’s capital markets.
With the Gelephu International Airport construction set to commence this year, the GNBB stands as a testament to the power of public participation in shaping Bhutan’s next chapter. The collective spirit demonstrated through this offering reaffirms the unity, trust, and purpose with which Bhutanese citizens are building a mindful, inclusive, and future-ready nation.
For more information, please contact:
📩 [email protected] | [email protected]
🌐 www.gidc.bt | www.gmc.bt
