Bhargav Bikas Bank proposes further 80% right shares; paid up to reach Rs 47.52 crore

Bhargav Bikas Bank Limited (BHBL) has proposed a further capital hike by the way of issuance of 80% right shares. As per the notice published in NEPSE, BHBL is calling for Special General Meeting (SGM) on Jestha 6, for which it has announced Baisakh 28, 2074 as the book closure date. The SGM will be endorsing the BOD’s proposal to issue right shares in the ratio 10:8. Bhargav Bikas Bank has earned net profit of Rs 1.80 crore till the end of second quarter of the ongoing fiscal year. It had recently issued 100% right share to its shareholders. After this, its paid up capital has reached Rs 26.40 crore. After the issuance of proposed 80% right share, its paid up capital will reach Rs 47.52 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%).