Kumari Bank’s 50% right share receives approval from SEBON

Kumari Bank Limited (KBL) has received approval from SEBON for 2:1 right share today (Falgun 1, 2073). KBL will be issuing a total of 1,34,95,832.66 units right shares at a par value of Rs 100 per unit. Siddhartha Capital Ltd. is the issue manager for the right issue. KBL’s paid up capital stands at Rs 2.69 arba. It has proposed 21% bonus shares for the FY 2072/73. After the issuance of 50% right and 21% bonus shares, its paid up capital will reach Rs 4.61 arba. KBL has earned Rs 27.93 crore in the second quarter of the fiscal year 2073/74. It is in process of acquiring Kasthamandap Development Bank, Kankrebihar Bikas Bank, Mahakali Bikas Bank and Paschimanchal Finance at a share swap of 100:85.