Excel Dev. Bank to issue 50% (19.22 lakh units) Right Shares from Ashwin 18; Offer ends on Kartik 21

Excel Development Bank Limited (EDBL) will be issuing 2:1 (50%) right share to its shareholders from Ashwin 18, 2074. As per the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Kartik 21, 2074. The book closure date for the rights issue was set on Bhadra 21, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Bhadra 20, 2074 are eligible to apply for the right shares. Excel Development Bank will be issuing 19,22,812.5 units right shares at a par value of Rs 100 per unit. Ace Capital Limited is the issue manager for this right issue. EDBL’s current paid up capital remains at Rs 38.45 crore. After issuance of this 50% right share, its paid up capital will reach Rs 57.68 crore. It has authorized capital of Rs 1 arba. Interested applicants can collect application forms from Ace Capital Limited, laldurbar, Kathmandu and from designated branches of Excel Development Bank and Nepal Investment Bank. The development bank has earned net profit Rs 15.26 crore in the fourth quarter of the fiscal year 2073/74. Excel Development Bank has recently proposed 30.12 percent bonus share to its shareholders. After 30.12% bonus share distribution, its paid up capital will reach to Rs 69.26 crore. As a 1-3 district level development bank, EDBL had to increase its paid up capital to Rs 50 crore as per NRB’s directive.