Everest Bank to auction 2.53 lakh units unsubscribed right shares at Rs 100 & above

Everest Bank Limited (EBL) had floated 33% (15,088,087 unit) right shares to its shareholders from Asadh 18, 2074 till Shrawan 22, 2074. The bank has published notice of allotment of right shares today. It has allotted only 1,48,34,290 units  right shares as per right share allotment notice and remaining 2,53,797 units (1.6%) was unclaimed by the shareholders. Now, the unclaimed 2.53 lakh units right shares will  be sold through auction. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 6.03 arba from existing Rs 4.52 arba.As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, EBL will need to issue a further capital hike of around 32.50%. EBL has earned Rs 1.98 arba net profit in the fourth quarter in the fiscal year 2073/74.