Bhargav Bikas Bank to issue 80% right share; NMB Capital appointed issue manager
Fri, Jun 23, 2017 10:00 AM on Latest, Dividend, Bonus & Rights, Featured,
Bhargav Bikas Bank Limited (BHBL) has appointed NMB Capital Limited for issue management of its upcoming 10:8 right shares. Mr. Pushkar Raj Joshi, CEO of BHBL and Mr. Shreejesh Ghimire, CEO of NMB Capital signed the issue agreement.
BHBL will be issuing a total of 21,12,000 units right shares, each to be floated to its shareholders at par value of Rs 100 per share. It 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 this 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%).
BHBL will be issuing a total of 21,12,000 units right shares, each to be floated to its shareholders at par value of Rs 100 per share. It 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 this 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%).
