Gelephu Bond Subscriptions: Nu 3.35 Billion Raised

The Gelephu Nation Building Bond opened on 2 May 2025 with a Nu 2 billion target and a window to 31 May. The first day brought Nu 18 million from 230 subscribers. By the evening of 30 May the issue held Nu 2.36 billion from 24,040 people — already past the target — and the issuer extended the window by three days. On 1 June the count was Nu 2.96 billion from 31,105. At close on 3 June it was Nu 3.347 billion from 35,403 retail investors, from all twenty dzongkhags, with over 18,000 of them investing in a capital-market instrument for the first time.

Only the four publicly reported readings are plotted. The exchange did not publish a daily series, and the chart does not invent one.

Because the issue was oversubscribed, allocation followed an equal-allocation rule: the minimum Nu 10,000 orders were filled in full first, then Nu 20,000 orders, and so on upward. The story of what that rule and this curve mean is in One in Twenty-Two Bhutanese Invested in the Nation; the comparison with India’s 2026 diaspora deposit window is in Gelephu Bond vs India’s FCNR(B) Window.