Last day to apply 100% right share of Saptakoshi Dev. Bank

Existing shareholders have one more day to file for the 1:1 (100%) ratio right shares of Saptakoshi Development Bank Limited (SKDBL).The development bank has been issuing right shares from Poush 24, 2073 and today is the closing day for the same. Saptakoshi Development Bank has been issuing a total of 10,00,000 units right shares at the face value of Rs 100. The book closure date for 100% right issue was set for Poush 8, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Poush 7, 2073 are eligible for the right shares. NMB Capital Limited has been assigned as the issue manager for this right issue. Interested shareholders can collect the application forms from NMB Capital, Nagpokhari, Kathmandu, and all branch offices of Saptakoshi Development Bank and NMB Bank Limited. After the adjustment of the rights shares, the development bank’s total paid-up capital will reach Rs 20 crore from the existing Rs 10 crore. The bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 60:40 ratio. Saptakoshi Development Bank had convened its 4^th Annual General Meeting (AGM) on Poush 28, 2073. The AGM had also endorsed 11% bonus share and 1:1.3 (130%) right share to its shareholders. After the issuance of 100 percent right, 11 percent bonus and again 130 percent right share, its paid up capital will reach Rs 48.53 crore. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 arba by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%.