Deadline to apply for 50% right share of Deva Bikas Bank extended till Falgun 27; LTP at Rs 194

Deva Bikas Bank Limited (DBBL) has extended the final application date for its ongoing 50% right issue till Falgun 27, 2073. Earlier, the last day to apply was set for Falgun 15. DBBL has been issuing 44,05,440.39 units right shares at the face value of Rs 100 to its existing shareholders from Magh 9, 2073. The book closure date was set for Poush 18, 2073. Only those shares traded one day ahead of the book closure date i.e. Poush 17, 2073 are eligible for the right shares.  (Right share eligibility can be checked on their website) NIBL Capital Markets Limited has been assigned as the issue manager for this issue. Interested shareholders can collect the application forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu and from Deva Bikas Bank Limited and its branch offices. The application forms can also be collected from Nepal Investment Bank’s Pokhara, Biratnagar and Birgunj branches and from Goodwill Finance Limited’s Nepalgunj and Itahari branch. DBBL has earned net profit of Rs 14.03 crore up to the second quarter of the current fiscal year 2073/74. Its paid up capital after the capitalization of 14% bonus share for the FY 2072/73 remains at Rs 1 arba. After the issuance of 50% right share, its paid up capital will reach Rs 1.44 arba. As per NRB’s requirement for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, DBBL will need to issue a further capital hike of around 73%. Its latest closing price stood at Rs 194 as of February 22, 2017. Also See: All existing right issues