Last day to apply 46.09 lakh unit (25%) right shares of Gandaki Bikas Bank; Prabhu Capital manages the issue

Gandaki Bikas Bank Limited (GDBL) is closing 46,09,815.5 units right shares issue to its shareholders in the ratio 4:1 (25%) today (Magh 11, 2074). The right issue was open from Poush 7, 2074. The book closure date was set on Mangsir 15, 2074. Only those shareholders that have shares traded ahead of the book closure date, i.e. till Mangsir 14, 2074 i.e. one day ahead of the book closure date are eligible to for right shares. Prabhu Capital Limited is the issue manager for the right issue. Interested applicants can collect application forms from Prabhu Capital Markets Limited, Lazimpat, Kathmandu and also from designated branches of Gandaki Bikas Bank Limited and Prabhu Bank Limited. ICRA Nepal Limited has assigned IPO Grade 3 rating to the upcoming 25% right share of Gandaki Bikas Bank Limited (GDBL), indicating average fundamentals. Gandaki Bikas Bank, after merger with Fewa Bikas Bank, has earned net profit of Rs 20.45 crore in the second quarter current FY 2074/75. Its current paid-up capital stands at Rs 1.84 arba and after issuing 25% right shares, its paid-up capital will reach Rs 2.30 arba. As per NRB’s directive for national-level development banks, GDBL should increase its paid-up capital to Rs 2.50 arba. Thus it should further hike its capital by Rs 20 crore (around 8.69%). Click here to see announcement: