Last day to clinch 40% right shares of Civil Bank; LTP at Rs 227

Today is the last day to clinch 40% right shares of Civil Bank Limited (CBL). The commercial bank has decided to close the register of their shareholders on Mangsir 5, 2074 for the purpose of issuing right share. Only those shareholders that have shares traded ahead of the book closure date i.e. till today (Mangsir 4, 2074) are eligible for right shares. SEBON had given approval for the issuance of right shares on Kartik  5, 2074. CBL will be issuing 2,07,40,886.75 units right shares worth Rs 2.07 arba each to be floated to its existing shareholders at par value of Rs 100 per share. Laxmi Capital Markets Ltd. is the issue manager for the right share. CBL’s current paid up capital remains at Rs 5.18 arba. After issuance of 40% right share, its paid up capital will reach Rs 7.25 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba , CBL should increase a further capital hike of Rs 75 crore (around 10%). It had earned Rs 11.33 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 227 as of last trading day.