Book closure for 70% right issue of Garima Bikas Bank on Chaitra 30; only 5 trading days left

Only 5 trading days are left to secure 70% right shares of Garima Bikas Bank Limited (GBBL). As per the notice published in NEPSE today, the register of their shareholders will close on Chaitra 30, 2073 for the purpose of issuing right shares to its shareholders. Only those shareholders holding shares one day ahead of the book closure date i.e. until Chaitra 29, 2073 are eligible to apply for the right shares. Ace Capital Limited has been appointed as the issue manager for the right issue. Garima Bikas Bank had earned net profit has of Rs. 15.95 crore in second quarter of the fiscal year 2073/74. Its paid up capital stands at Rs 1.29 arba and after issuance of 70% right share, its paid up capital will reach Rs 2.19 arba. As per NRB’s requirement for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, GBBL should increase its capital by a further 13.85%.