Last day to apply 80% right shares of Bhargav Bikas Bank; NMB Capital manages the issue

Bhargav Bikas Bank Limited (BHBL) is closing 21,12,000 unit right shares to its shareholders in the ratio 10:8 (80%) today (Poush 14, 2074). The rights issue was open from Kartik 24, 2074. The book closure date for the 80% right issue was set for Kartik 15, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Kartik 14, 2074 are eligible to apply for the right shares. NMB Capital Limited is the issue manager for the right issue. Interested applicants can collect application forms from NMB Capital Limited, Nagpokhari, Kathmandu and also from designated branches of Bhargav Bikas Bank Limited and NMB Bank Limited. After the issuance of this 80% right share, its paid up capital will reach Rs 47.52 crore from current Rs 26.40 crore. As per NRB’s requirement for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, BHBL will need to issue a further capital hike of Rs 2.48 crore (around 5.25%). Its LTP stood at Rs 165 as of last trading day.