Last day to apply for 40%, 200% & 50% right shares of Nepal SBI Bank, Hamro Bikas Bank & Gurkhas Finance respectively

Nepal SBI Bank Limited (SBI), Hamro Bikas Bank Limited (HAMRO) and Gurkhas Finance Limited (GUFL) are closing its right share issuance to its existing shareholder today after office hours. Nepal SBI Bank has been issuing 40% right shares (19,919,423.60 units) to its shareholders from Jestha 7, 2074. The book closure date for the rights issue was on Baisakh 15, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until today are eligible to apply for the right shares. NMB Capital Limited has been assigned as the issue manager for SBI’s right share issue. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.97 arba from the existing Rs 4.97 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 70:30 ratio.As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SBI will need to issue a further capital hike of Rs 1.03 arba (15%). Hamro Bikas Bank has been issuing 200% right shares (30,58,338.75 units) to its shareholders from Jestha 7. NIBL Capital Markets Limited is the issue manager for the right issue. The book closure date for the 200% right issue was set for Baisakh 11, 2073. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 10, 2073 are eligible to apply for the right shares. HAMRO has earned net profit of Rs 3.10 crore in the third quarter of the FY 2073/74. It has a paid up capital of Rs 15.29 crore. After the issuance of right shares in the ratio 1:2, its paid up capital will reach Rs 45.88 crore. As per NRB’s directive for all 1-district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, HAMRO will need to increase its capital by a further 9% only. Gurkhas Finance has been issuing 50% right shares (28,93,313 units) to its shareholders from Jestha 1, 2074. The book closure of GFL was on Baisakh 20, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 19, 2074 are eligible to apply for the right shares. NIBL Capital Markets will be managing the right issue for Gurkhas Finance. Former Gurkha Development Bank and Kathmandu Finance Limited had started joint operation after merger from Chaitra 28, 2072 as “Gurkhas Finance Limited”, a class “C” national level finance company. It has an authorized capital of Rs 1 arba. Gurkhas Finance has earned net profit of Rs 10.30 crore in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 57.86 crore. After the capitalization of the right shares, its paid up capital will reach Rs 86.79 crore.