Gentle Reminder! Excel Development Bank (EDBL) is Closing 30% Right Issue from Today

Excel Development Bank Limited (EDBL) is closing its 10:3 i.e. 30% right shares issue from today (29th Kartik, 2078). The right issue was opened to its shareholders on 25th Ashwin, 2078.

This offering will raise a capital of Rs. 24,33,36,367.42 for the company. Thus, 24,33,363.67 shares are in the offing. NIBL Ace Capital has been appointed the issue manager. The regulatory board approved the proposal on Shrawan 31. The company had submitted its proposal on Jestha 27 earlier this year.

Ashoj 01 was the book closure date. Thus, shareholders maintained before that day can apply for the rights issue. ICRA Nepal has assigned a BBB- issuer rating, denoting timely attainment of financial obligation and medium credit risk.

Right Closing Notice:

Offer Letter