Kakrebihar Bikas Bank & Kathmandu Finance extends deadline to apply for 50% & 100% right share respectively

Existing shareholders have till Poush 16 to apply for the 1:0.5(50%) ratio right shares of Kakrebihar Development Bank limited (KKBL). The development bank has been issuing right shares from Kartik 16, 2072. NIBL capital Markets ltd, issue manager for the right share, published notice today regarding the extension. KKBL is issuing a total of 1, 72,500 rights share at the face value of Rs 100 for its existing shareholders. Interested existing shareholders can apply for the shares at office of the KKBL’s Share Registrar Growmore Merchant Banker Limited which is located at Durbarmarg, Kathmandu. At present the finance has a paid up capital of Rs 3.79 crore whereas after the issuance of right shares its paid up capital will reach to Rs 5.17 crore. Kakrebihar had earned a net profit of Rs 56.73 lakh in its 4th quarter of the fiscal year 2071/72. Its last traded price stood at Rs 380 as on October 11. Similarly,  Kathmandu Finance Company Limited (KFL) has extended the deadline to apply for 1:1 (100%) ratio right share. The finance has been issuing right shares from Kartik 15, 2072. Now, the investors have till Mangsir 23 to apply for the right share. The finance is issuing a total of 18,37,763 unit rights share at the face value of Rs 100 to its existing shareholders. Interested existing shareholders can apply for the shares at office of the finance’s Share Registrar NIBL Capital Markets Limited, which is located at Lazimpat, Kathmandu. Growmore merchant banker, issue manager for the right share, published notice today regarding the extension. At present the finance has a paid up capital of Rs 18.37 crore whereas after the issuance of right shares its paid up capital will reach to Rs 36.75 crore. Nepal has assigned an “[ICRANP] IPO Grade 5”, indicating poor fundamentals to the proposed rights issue amounting NPR 183.7763 million of Kathmandu Finance Limited (KFL). Kathmandu Finance had posted a net profit of Rs 1.71 crore in its 4th quarter of the fiscal year 2071/72.