Bhargav Bikas Bank extends 80% (21.12 lakh unit) right shares till Poush 14; NMB Capital manages the issue

Bhargav Bikas Bank Limited (BHBL) has extended right share issue date. As per the notice published by the development bank today, now the shareholders of the BHBL can submit right application till Poush 14, 2074. It has been issuing 21,12,000 unit right shares to its shareholders in the ratio 10:8 (80%) from Kartik 24, 2074. The previous closing date was set on Mangsir 28, 2074. The book closure date for the 80% right issue was set for Kartik 15, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Kartik 14, 2074 are eligible to apply for the right shares. NMB Capital Limited is the issue manager for the right issue. Interested applicants can collect application forms from NMB Capital Limited, Nagpokhari, Kathmandu and also from designated branches of Bhargav Bikas Bank Limited and NMB Bank Limited. After the issuance of this 80% right share, its paid up capital will reach Rs 47.52 crore from current Rs 26.40 crore. As per NRB’s requirement for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, BHBL will need to issue a further capital hike of Rs 2.48 crore (around 5.25%). Announcement: