Gandaki Bikas Bank 30% right shares offer from Magh 17 to Falgun 23; Paid up capital will reach Rs. 45.76 crore

Gandaki Bikas Bank Limited (GDBL) has called on its existing shareholders to start applying for 10:3 (30%) right share from Magh 17, 2072. According to the notice published by the bank today, the rights issue will remain open for 35 days before closing on Falgun 23, 2072. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Poush 30, 2072 would be eligible to apply for the right shares. Gandaki Bikas Bank will be issuing a total of 10, 56,000 unit right share at the face value of Rs 100. Global IME Capital limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of Gandaki Bikas Bank as well as from the Global IME capital located at Rastriya Nachghar, Jamal, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 45.76 crore from the existing Rs 35.20 crore. The bank authorized and issued capital will reach Rs 80 crore and 45.76 crore respectively after issuance of right share. Its promoter- public ratio is at 70% to 30%. The bank might convert its 19% promoter share into public share making the promoter- public share 51% to 49% in the near future. GDBL has earned a net profit of Rs 20.14 crore in the first quarter of the ongoing fiscal year. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals.