Book closure for 80% right shares of Bhargav Bikas Bank on Kartik 15; only 6 trading days left

Bhargav Bikas Bank Limited (BHBL) has set  book closure date for upcoming 80% right shares. As per the notice published in NEPSE today, the book closure date has been set on Kartik 15, 2074. Thus, only those shareholders owning shares till Kartik 14, 2074, i.e. one day ahead of the book closure date are eligible for the right shares. NMB Capital Limited has been assigned as the issue manager for the right issue. Likewise, BHBL will be issuing a total of 21,12,000 units right shares to its shareholders at Rs 100 per share. 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%). Its LTP stood at Rs 279 as of last trading day.