Last day to apply for 35% right shares of Tinau Development Bank

Tinau Development Bank Limited (TNBL) is closing 11.94 lakh units right shares to its shareholders today (Jestha 22, 2074). The issue was open from Baisakh 19, 2074. TNBL is issuing a total of 11,94,796.09 units right shares worth Rs 11.94 crore in the ratio 10:3.5 at a face value of Rs 100 per unit to its shareholders. Siddhartha Capital Limited is the issue manager for the right issue. The book closure date for the right issue was set on Baisakh 6, 2074. Thus, Only those shareholders holding shares or who had bought till Baisakh 5, 2074 are eligible to apply for the right shares. The bank has an authorized capital of Rs 60 crore. TNBL had endorsed 25% bonus share for the FY 2072/73. Its paid up capital after the issuance of bonus stands at Rs 34.13 crore. After the issuance of 35% right shares, its paid up capital will reach Rs 46.08 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, it will need to issue a further capital hike of around 8.50%.