Closing date of right share issuance of Green Development Bank, Lumbini Bikas Bank and Prabhu Bank on Falgun 23 (tomorrow); Opportunity for the existing shareholders

The closing date for the right share issuance of Green Development Bank, Prabhu Bank and Lumbini Bikas Bank is set for Falgun 23, 2074. Green Development Bank Limited (GRDBL) has issued 400% right shares from Magh 2, 2074. It is issuing 40 lakh unit right shares at the face value of Rs 100 each. The deadline for submission of application was set on Falgun 8, 2074 and later it was extended for 15 more days. Laxmi Capital Market Limited has been appointed as the issue manager for the right issuance. Its current paid up capital stands at Rs 10 crore and after the right issue, its paid up capital will reach Rs 50 crore with promoter and general public shareholding at 55% and 45% respectively.  As a 1-3 district level development bank to meet the capital requirement as directed by the Nepal Rastra Bank, it should hike its paid-up capital to Rs 50 crore. Similarly, Lumbini Bikas Bank Limited (LBBL) has issued 10% right shares for its shareholders from Magh 11. It had floated 20,08,878.49 unit right shares of Rs 100 each. The first deadline for the submission for application was set on Falgun 16 and later it was extended to close on Falgun 23. Prabhu Capital Limited has been appointed as the issue manager. Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%). The closing date for the right issuance of Prabhu Bank Limited (PRVU) is also set on Falgun 23, 2074. The bank has issued 40% right shares from Magh 7, 2074. The closing date for 2.35 crore unit right shares was set on Falgun 13 but was later extended to Falgun 23. Sunrise Capital market is the issue manager for the right share issuance. The paid up capital of PRVU will reach Rs 8.24 arba after the 40% right share adjustment from existing Rs 5.88 arba.