Jyoti Bikas Bank Limited issuing 1,10,43,171 units (100%) right shares from today; offer ends on Jestha 31

Jyoti Bikas Bank Limited (JBBL) is issuing 100% right shares (1,10,43,171 units) to its shareholders  from today (Baisakh 28, 2074). The book closure for the same has been set for Baisakh 14, 2074. The rights issue will remain open for 35 days before closing on Jestha 31, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 13, 2074 are eligible to apply for the right shares. Siddhartha Capital Limited is the issue manager for the rights issue. Interested applicants can collect application forms from Siddhartha Capital Limited, Naxal and from all branches of Jyoti Bikas Bank Limited. JBBL has earned net profit of Rs 19.26 crore in the third quarter of the FY 2073/74. After the capitalization of 100% right shares, its paid up capital will reach Rs 2.20 arba. As a national level development bank, it should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. It recently signed an agreement to acquire Raptibheri Bikas Bank Limited.