Kumari Bank to issue right shares worth Rs 1.19 arba from today; Paid up capital of the bank to reach Rs 7.15 arba after the right issuance

Kumari Bank Limited (KBL) is issuing 20% right shares for its existing shareholders from Baisakh 28, 2075 i.e. today. The issue will be closed on Jestha 31, 2075.

The bank is issuing 1,19,38,991.65 unit right shares at a par value of Rs 100.

The book closure date for the right share issuance had been set on Baisakh 10, 2075 i.e. the shareholders holding the shares of Kumari Bank till Baisakh 09 will be eligible for the 10:2 right shares.

NIBL Ace Capital has been appointed as the issue manager for the right issue.

The interested applicants can collect the application forms from NIBL Ace Capital or any designated branches of Kumari Bank Limited. Right share eligibility can be checked at NIBL Ace Capital.

Currently, the paid-up capital of the bank stands at Rs 5.96 arba. After the issuance of the right shares, the paid-up capital of the bank will stand at Rs 7.15 arba. The bank’s paid up capital will still be short by 85 crore from the requirement set by Nepal Rastra Bank which is much likely to be attained by issuance of bonus share.

Its LTP stood at Rs 246 as of last trading day.

Also See: Ongoing Right Share Issues