Book closure for 25% right share of Gandaki Bikas Bank on Mangsir 15

Gandaki Bikas Bank Limited (GDBL) has set book closure date for upcoming right shares. As per the notice published in newspaper today, the development bank has decided to close the register of their shareholders on Mangsir 15, 2074 for 25% right shares. Only those shareholders that have shares traded ahead of the book closure date, i.e. till Mangsir 14, 2074 i.e. one day ahead of the book closure date will be eligible to participate in AGM and proposed dividend. GDBL will be issuing 46,09,815.50 units shares worth Rs 46.09 crore at the face value of Rs 100 each to be issued to the existing shareholders at par. Prabhu Capital Limited has been assigned as the issue manager for right share issue. ICRA Nepal Limited has assigned IPO Grade 3 rating to the upcoming 25% right share of Gandaki Bikas Bank Limited (GDBL), indicating average fundamentals. Gandaki Bikas Bank, after merger with Fewa Bikas Bank, has earned net profit of Rs 5.39 crore in the first quarter current FY 2074/75. Its current paid-up capital stands at Rs 1.84 arba and after issuing 25% right shares, its paid-up capital will reach Rs 2.30 arba. As per NRB’s directive for national-level development banks, GDBL should increase its paid-up capital to Rs 2.50 arba. Thus it should further hike its capital by Rs 20 crore (around 8.69%). Click here to see announcement: