Excel Development Bank (EDBL) Distributes Right Shares to Demat Accounts

Excel Development Bank Limited (EDBL) has distributed 10: 3 right shares directly to Demat accounts of its shareholders. and urged its shareholders to dematerialize their shares.

The 30% Right Shares have already been listed in NEPSE. This equates to 24,33,363.6742 shares of the company.

The 10: 3 right issue was opened to its shareholders on 25th Ashwin, 2078. Ashoj 01 was the book closure date. Thus, shareholders maintained before that day applied for the rights issue. Unclaimed right shares were also auctioned.

For those who have not dematerialized their shares, the right shares will be distributed only after they complete the necessary procedure. Furthermore, investors who have taken margin loans against the shares of the company are required to present a No Objection Letter from the lending institution.

As of writing, EDBL has an LTP of Rs. 540. 

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