Last day to apply 40% right shares of Muktinath Bikas Bank; NIBL Capital manages the issue

Muktinath Bikas Bank Limited (MNBBL) is closing 10:4 (40%) right share to its shareholders today (Ashwin 8, 2074). The rights issue was open for 35 days from Bhadra 4, 2074. The book closure date for the rights issue was set on Shrawan 20, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Shrawan 19, 2074 are eligible to apply for the right shares. MNBBL is issuing 6,170,865.04 units right shares at a par value of Rs 100 per unit. NIBL Capital Market Limited is the issue manager for this right issue. Interested applicants can collect application forms from NIBL Capital Market Limited, Lazimpat, Kathmandu and from designated branches of Muktinath Bikas Bank Limited. MNBBL’s current paid up capital remains at Rs 1.54 arba. After issuance of this 40% right share, its paid up capital will reach Rs 2.15 arba. It has authorized capital of Rs 2.50 arba. MNBBL’s 10^th AGM held on Mangsir 4, 2073 had endorsed capital increment by the way of issuing right shares in the ratio 10:4. To meet up with the minimum paid up capital requirement, MNBBL should hike its capital by Rs 35 crore (around 16%). MNBBL has posted net profit of Rs 49.63 crore up to the end of fourth quarter of FY 2073/74. Its last traded price (LTP) stood at Rs 600 as on September 20, 2017.