Nilgiri Vikas starts refunding money to non-allottee investors

ShareSansar, May 20:

Nilgiri  Vikas Bank Limited has started refunding non-allotee investors for its 4:1 right shares from today, Jestha 7.

The company had issued a total of 3,00,000 units of right shares to its existing shareholders.

The bank has urged non-allottee investors to contact collection centers from where they had applied for the right shares to collect their refund money.

Global IME Capital Limited is the issue manager for the rights issue.

Nilgiri Bikas Bank has reported a huge growth in profit for the third quarter of fiscal year 2071/2072. The bank’s profit surged by 72.22% in the third quarter to Rs 1.69 crore, up from 94.04 lakh posted in the corresponding quarter of the fiscal year 2070/71.