Right Shares of Narayani Development Bank Limited in SEBON Pipeline; Company to Issue 100% Right Share

Securities Exchange Board of Nepal (SEBON) has added right shares of Narayani Development Bank Limited to its pipeline under preliminary review, worth a total of Rs. 26.24 Crores.

The Development bank is looking to issue 100% right shares worth Rs. 26.24 Crores through issue of 2,624,676 (1 :1) units right shares to its existing shareholders. The current paid up capital which is at Rs. 26.2 crore as of the fourth quarter of FY 78/79, will increase to Rs. 52.4 Crores after the proposed issue.

Global IME Capital Limited has been appointed as the issue manager.

Narayani Development Bank Limited initially operated its transactions from 28th September, 2001 District level “B” class license financial institution with the name of Narayani Audhogik Bikas Bank Limited. and was renamed to Narayani Development Bank Limited.

The bank was established with the aim of to providing best services to the customer and to be their first choice. The bank corporate office is located in Ratnanagar-1, Tandi, Chitawn. The bank currently has its presence via 5 branches in 3 districts.