Excel Development Bank (EDBL) Allots Right Shares, Remaining 27,257.1962 Units To Be Auctioned

Fri, Dec 3, 2021 11:27 AM on Latest, Dividend, Bonus & Rights,

Excel Development Bank Limited (EDBL) has allotted its 10:3 ratio rights offering to its shareholders on 16th Mangsir, 2078.

The company closed its 10:3 i.e. 30% rights offering on 29th Kartik, 2078. The right issue was opened to its shareholders on 25th Ashwin, 2078. Ashoj 01 was the book closure date. Thus, shareholders maintained before that day were eligible to apply for the rights issue. ICRA Nepal had assigned a BBB- issuer rating, denoting timely attainment of financial obligation and medium credit risk.

This offering was supposed to raise a capital of Rs. 24,33,36,367.42 for the company. Thus, 24,33,363.67 shares were offered. NIBL Ace Capital was appointed the issue manager.

According to the notice published today, 6,180 eligible applicants have been allotted a total of 24,06,106.4738 units. Thus, the remaining 27,257.19 units will be auctioned.