10: 3 Rights Offering of Excel Development Bank Opening on Ashwin 25

Excel Development Bank Limited has published an offer letter to issue 10:3 i.e. 30% right shares. The company will open the rights issue to its shareholders from 25th Ashwin to 14th Kartik, 2078.

This offering will raise a capital of Rs. 24,33,36,367.42 for the company. Thus, 24,33,363.67 shares will be issued. 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.

Offer Letter