Gandaki Bikas Bank allots 42.56 lakh unit right shares; Unallotted 3.52 lakhs units to be auctioned soon

Gandaki Bikas Bank Limited has allotted its 25% right shares to its shareholders. The bank had issued 46,09,815.50 unit right shares at the par value of Rs 100. 17,099 applicants were allotted 42,56,914 unit shares as per the decision made by the meeting of the board of directors. It has unsold 3,52,901.5 unit right shares including public shares and promoter shares both. The notice for the auction will be published soon. Prabhu Capital Limited was appointed as the issue manager for the right share issuance. The bank’s current paid up capital is Rs 1.84 arba and after issuing the right shares its paid up capital will reach Rs 2.30 arba.  As per NRB’s directive for national-level development banks, GDBL should increase its paid-up capital to Rs 2.50 arba. Thus it should further hike its capital by Rs 20 crore (around 8.69%). Notice