Book Closure for 130% right share of Saptakoshi Development Bank on Ashad 14; only 8 trading days left

Saptakoshi Development Bank Limited (SKDBL) 4^th AGM held on Poush 28, 2073 had approved 130% (1:1.3) right share to its existing shareholders and now the bank has announced a book closure date for the same. As per the notice published in Nepse today, the book closure date for 130% right issue has been set for Ashad 14, 2074. Only the shares registered one day ahead of the book closure date i.e. Ashad 13, 2074 will be eligible for the right shares. Saptakoshi Development Bank will be issuing a total of 2,743,000 unit right shares at the face value of Rs 100. NMB Capital Limited has been assigned as the issue manager for right share issue. SKDBL has earned net profit of Rs 1.66 crore in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 21.10 crore. After the issuance of 130 percent right share, its paid up capital will reach Rs 48.53 crore. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%.