Bhargav Bikas Bank issuing 12 lakh units (100%) right shares from Falgun 24; offer closes on Chaitra 28

Bhargav Bikas Bank Limited (BHBL) is going to issue 12,00,000 units right shares in the ratio 1:1 at a face value of Rs 100 to its existing shareholders from Falgun 24, 2073. The issue will be open for 35 days before closing on Chaitra 28, 2073. The register of the shareholders will close on Falgun 12, 2073. Only those shareholders owning shares one day of the book closure date i.e. Falgun 11, 2073 are eligible to apply the shares. NMB Capital Limited is the issue manager for the right issue. Application forms can be collected from NMB Capital Limited, Nagpokhari, Naxal, Kathmandu, and from branches of Bhargav Bikas Bank and NMB Bank Limited. BHBL had earned Rs 1.8 crore in the second quarter of the fiscal year 2073/74. Its paid up capital stands at Rs 14.40 crore. After the issuance of 100% right, its paid up capital will reach 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 89% capital hike.