Deva Bikas Bank gets approval for 40% right shares from SEBON

Securities Board of Nepal (SEBON) has provided final approval to Deva Bikas Bank Limited (Deva Bikas Bank Limited) for the issuance of 40% right shares. The development bank had applied to SEBON on Mangsir 15, 2074 for the approval of 65,33,108 unit right shares worth Rs 100 per share to its shareholders. NIBL Capital has been appointed as the issue manager for the right issue. DDBL had proposed 17.1% bonus shares to its shareholders from the net profit of FY 2073/74. Currently, the paid up capital of the bank stands at Rs 1.63 arba and after the issuance right shares the capital of the bank will reach Rs 2.28 arba. It has earned Rs 14.6 crore as net profit in the second quarter of the current fiscal year.