Last day to clinch 40% right shares of Muktinath Bikas Bank; LTP at Rs 937

Today is the last day to get hold of 40% right shares of Muktinath Bikas Bank Limited (MNBBL). The bank has decided to close the register of their shareholders on Shrawan 20, 2074 for the purpose of issuing right share. Thus, only those shareholders that have shares traded ahead of the book closure date i.e today will be eligible to apply for the right shares. SEBON had given approval for the issuance of right shares on Shrawan 2, 2074. NIBL Capital Markets Limited has been assigned as the issue manager for right share issue. MNBBL will be issuing 6,170,865.04 units right shares at a par value of Rs 100 per unit from Bhadra 4 to Asoj 8, 2074. Muktinath Bikas Bank is a national level development bank and as per central bank’s directive, it should increase its paid up capital to a minimum of Rs 2.50 arba by the end of the current FY 2073/74. MNBBL’s 10^th AGM held on Mangsir 4, 2073 had endorsed capital increment by the way of issuing right shares in the ratio 10:4. After the issuance of 40% right shares, MNBBL’s paid up capital will reach around Rs 2.15 arba. To meet up with the minimum paid up capital requirement, MNBBL should issue a further capital hike of Rs 35 crore (around 16%). MNBBL has posted net profit of Rs 49.63 crore up to the end of fourth quarter of FY 2073/74. Its last traded price (LTP) stood at Rs 937 as on August 2, 2017.