Gelephu Investment and Development Corporation

Name

Gelephu Investment and Development Corporation

Legal name

Gelephu Investment and Development Corporation

Website

https://gidc.bt

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Sovereign Development Financing

NAICS

Other Financial Vehicles (525990)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Project & Infrastructure Bonds (FSACABAN)

akta.pro secondary industries

Municipal Bonds (FSACABAE), Government Bonds & Agencies (Sovereigns, Supras, Munis) (FSAAAHAA), Sovereign Bonds (FSACABAC)

Keywords

• Sovereign investment corporation
• Nation building bonds
• Fixed-term deposits
• Infrastructure development financing
• Special administrative zone investment

Headquarters

HQ city

Thimphu

HQ country

Bhutan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Gelephu Mindfulness City Nation Building Bond (GNBB): GIDC issues a 10-year corporate bond (face value Nu. 1,000 per unit, total offering Nu. 2,000,000,000 / Nu. 2 billion) with a 10% per annum coupon rate paid annually. The bond is tax-exempt under Bhutanese Personal Income Tax. Proceeds are dedicated entirely to financing the Gelephu International Airport (estimated USD 500 million). The bond was oversubscribed, surpassing the target ahead of schedule.
2. ORO Bank Fixed-Term Deposit (FTD) Programme: GIDC partners with ORO Bank to offer Fixed-Term Deposit products to Non-Resident Bhutanese (NRBs), structured as USD-denominated bond subscriptions through ORO Bank. Options include one-time USD 1,000 minimum deposits at 4% p.a. (USD interest) or 10% p.a. (BTN interest), and monthly subscription plans of USD 250/month for 24 months at 3% (USD) or 8% (BTN). ORO Bank subscribes to a GIDC bond using the accumulated FTD funds.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

GIDC issues corporate bonds (the Gelephu Mindfulness City Nation Building Bond, GNBB) and partners with ORO Bank to offer Fixed-Term Deposit products for Non-Resident Bhutanese, channeling capital from Bhutanese citizens domestic and abroad to finance the Gelephu International Airport and broader Gelephu Mindfulness City development. Both instruments are sovereign-backed by GIDC's Royal Charter mandate and the GMCA guarantee, with the GNBB offering a 10% annual coupon over a 10-year tenure that is exempt from Bhutanese Personal Income Tax.

Product overview

GIDC operates as an investment corporation rather than a technology product company. Its primary offerings are financial instruments: the Gelephu Mindfulness City Nation Building Bond (GNBB) – a 10-year corporate bond with 10% annual coupon rate for Bhutanese citizens – and the Fixed-Term Deposit (FTD) program through ORO Bank for Non-Resident Bhutanese. Both products fund the development of the Gelephu International Airport as part of the Gelephu Mindfulness City Special Administrative Region.

Differentiator

Problem solved

Functional benefit

Products and services

• Gelephu Mindfulness City Nation Building Bond (GNBB) A 10-year corporate bond issued by GIDC with a face value of Nu. 1,000 per unit, a 10% annual coupon rate paid annually, and a minimum bid of 10 units (Nu. 10,000). The bond is available exclusively to Bhutanese citizens residing in Bhutan, with coupon payments exempt from Bhutanese Personal Income Tax. Proceeds are dedicated entirely to financing the Gelephu International Airport (estimated USD 500 million), and the bond is listed on the Royal Securities Exchange of Bhutan (RSEBL).
• Fixed-Term Deposit (FTD) Programme A fixed-term deposit programme offered exclusively through ORO Bank for Non-Resident Bhutanese (NRBs), allowing diaspora Bhutanese to participate in nation-building by funding the Gelephu International Airport development. Four options are available: one-time USD 1,000 deposits at 4% p.a. (USD interest) or 10% p.a. (BTN interest), and monthly subscription plans of USD 250/month for 24 months at 3% p.a. (USD) or 8% p.a. (BTN). ORO Bank subscribes to a GIDC bond using accumulated FTD funds, with a 10-year deposit term and early redemption permitted after 5 years without penalty.

Quantifiable outcome

• GNBB bond target of Nu. 2 billion was surpassed ahead of the original deadline (May 31, 2025), demonstrating extraordinary public demand and patriotic response.
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Bank of Bhutan Limited (BOBL)coreChannel Partner/ Reseller/ Distributor · 1 May 2025Bank of Bhutan serves as one of five underwriters/brokers for the Gelephu Mindfulness City Nation Building Bond (GNBB), the domestic corporate bond issuance. BOBL handles bond distribution to eligible Bhutanese citizens and provides customer support via its contact number (+975 77789206).
• Bhutan National Bank (BNB)coreChannel Partner/ Reseller/ Distributor · 1 May 2025Bhutan National Bank serves as one of five underwriters/brokers for the GNBB bond issuance, distributing bonds to domestic Bhutanese citizens and providing subscription support (+975 17434138).
• Royal Insurance Corporation of Bhutan Limited (RICBL)coreChannel Partner/ Reseller/ Distributor · 1 May 2025RICBL serves as one of five underwriters/brokers for the GNBB bond issuance, distributing bonds to eligible Bhutanese citizens and providing subscription support (+975 77487283).
• Bhutan Development Bank Limited (BDBL)coreChannel Partner/ Reseller/ Distributor · 1 May 2025Bhutan Development Bank serves as one of five underwriters/brokers for the GNBB bond issuance, distributing bonds to domestic Bhutanese citizens and providing subscription support (+975 17455833).
• DK BankcoreChannel Partner/ Reseller/ Distributor · 1 May 2025DK Bank serves as one of five underwriters/brokers for the GNBB bond issuance, distributing bonds to eligible Bhutanese citizens and providing subscription support (+975 17111010).
• Gelephu Mindfulness City Authority (GMCA)coreOthers · 11 November 2024GMCA is the parent/regulatory body of the Gelephu Mindfulness City Special Administrative Region. GIDC is the investment arm fully owned by GMCA, founded under a Royal Charter to own, operate, and originate investment opportunities in local and global businesses that proliferate GMC and Bhutan's growth. GMCA provides a financial guarantee backing GIDC's bond issuance.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Temasek Holdings: A Singapore sovereign-owned investment company with a mandate to originate and own investments for national economic objectives. Comparable structurally to GIDC as a sovereign-owned investment vehicle, though at vastly greater scale and with a diversified global portfolio rather than a single infrastructure mandate.
• Royal Securities Exchange of Bhutan: Bhutan's principal securities exchange where the GNBB is listed. Comparable as the underlying infrastructure for GIDC's bond issuance, providing listing, secondary trading and price discovery for sovereign-backed securities in Bhutan.
• Khazanah Nasional: Malaysia's sovereign wealth fund that originates and manages strategic investments for national development. Comparable in structure to GIDC as a state-owned investment corporation funded through capital markets, though operating at sovereign-fund scale with a diversified portfolio.
• Mubadala Investment Company: A UAE sovereign investor that originates and operates strategic assets on behalf of the state. Comparable to GIDC in operating as a sovereign-owned investment vehicle for national economic transformation, though at significantly larger scale and with global asset diversification.

Direct peers

• ORO Bank: Asia's first full-reserve digital bank and GIDC's core diaspora distribution partner. Comparable as a financial entity offering Bhutanese-focused deposit and bond-linked products, though it is a regulated bank rather than a sovereign investment corporation.
• Bhutan Development Bank: Bhutan's state-owned development finance institution. Most directly comparable to GIDC as a government-owned vehicle channeling capital into national development projects, though it lends into the economy rather than issuing sovereign-backed corporate bonds.

Regional players

• Bhutan National Bank: One of Bhutan's principal commercial banks and a licensed broker for the GNBB offering. Comparable as a domestic financial institution channeling Bhutanese capital into national development, though it operates as a depository lender rather than a sovereign investment vehicle.
• Royal Insurance Corporation of Bhutan: Bhutan's state-owned insurance and financial services corporation, also a GNBB broker. Comparable as a state-owned financial institution offering citizen-facing financial products tied to national development, though operating in insurance rather than investment origination.
• Bank of Bhutan: A major Bhutanese commercial bank serving as a GNBB distribution partner. Comparable as a domestic bank participating in Bhutanese sovereign and quasi-sovereign capital raising, though it operates a retail banking franchise rather than originating investments.

Others

• Asian Infrastructure Investment Bank: A multilateral development bank focused on infrastructure in Asia. Comparable as a potential funding partner or model for GIDC's airport project, though operating as a multilateral institution rather than a sovereign national investment corporation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/61568399917190
• LinkedInlinkedin.com/company/gidc-bt

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gelephu Investment and Development Corporation