As per the monetary policy of Nepal Rastra Bank, Commercial Banks need to hike their paid up capital to Rs 8 arba by the end of Ashad 2074.
Standard Chartered Bank proposes to exercise below mentioned options to raise the paid up capital of the company to NPR 8 arba within stipulated time frame.
The current paid up capital of Standard Chartered Bank remains at Rs 2.81 arba. The bank will distribute bonus share worth Rs 93.7 crore (33%) from the net profit it earned in the FY 2072/73, then its paid up capital will rise to Rs 3.75 arba in the FY 2073/74
In the FY 2073/74, Standard Chartered will also be floating 3.30 crore units Further Public Offering (FPO) shares at a premium to the public.
At present its promoter shareholder: public shareholder ratio stands at 75:25. The bank will be converting promoter shareholders structure to make the structure in the ratio 39.89:60.11. At present, Standard Chartered Grindlays Ltd, Sydney, Australia holds 50% promoter share and Standard Chartered Bank, London, UK holds 25% promoter shares in SCB Nepal.
| |
Rs Million |
% Holding |
| Existing Capital (After Bonus) |
3,750.00 |
|
| A.Promoter (75%) |
2,812.50 |
75.00% |
| B.Public (25%) |
937.50 |
25.00% |
| C.Issues Fpo Amount |
3,300.00 |
|
| After FPO |
|
|
| D.Promoter (75%) |
2,812.50 |
39.89% |
| E.Public (B+C) |
4,237.50 |
60.11% |
| After FPO Share Capital |
7,050.00 |
|
After the issuance of Further Public Offering, the paid up capital of the commercial bank will reach to Rs 7.05 arba.
In FY 2074/75, the bank will again provide 14.18 percent (10 lakh unit shares) to its shareholders from the net profit it earned in the FY 2073/74. With this, the bank will be in comfortable position to meet the paid up capital requirement as issued by NRB directive to Rs 8 arba by the end of Asad, 2074.
