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

Sindhu Bikas Bank Limited (SINDU) is closing 20,97,540 unit right shares worth Rs 2.09 crore at the face value of Rs 100 today (Kartik 5, 2074). The right issue was open from Bhadra 18, 2074. Sindhu Bikas Bank had set book closure date for the 80% right issue on Bhadra 9, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Bhadra 7, 2074 are eligible to apply for the right shares. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 47.19 crore from the existing Rs 26.21 crore. The bank has authorized capital of 70 crore. Interested applicants can collect application forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu and from all branches of Sindhu Bikas Bank and designated branch office of Nepal Investment Bank. SINDU has earned net profit of Rs 3.72 crore in the fourth quarter of the last FY 2073/74. As per NRB’s directive 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, SINDU will need to issue a further capital hike of around 6%.