Last day to clinch 70% & 50% right share of Garima Bikas Bank & First Microfinance respectively; Book Closure tomorrow

Today is the last day to get hold of 70% right shares of Garima Bikas Bank Limited (GBBL). The register of their shareholders will close tomorrow (Chaitra 30, 2073) for the purpose of issuing right shares in the ratio 10:7. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until today (Chaitra 29, 2073) are eligible to apply for the right shares. Ace Capital Limited is the issue manager for the right issue. Garima Bikas Bank Limited (GBBL) will be issuing 90,76,296.66 units right shares to its shareholders in the ratio 10:7 from Baisakh 14, 2074. The rights issue will remain open for 35 days before closing on Jestha 17, 2074. Garima Bikas Bank has earned net profit has of Rs. 15.95 crore in second quarter of the fiscal year 2073/74. The bank has an authorized capital of Rs 3 arba. Its paid up capital stands at Rs 1.29 arba and after issuance of 70% right share, its paid up capital will reach Rs 2.20 arba. As per NRB’s requirement for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, GBBL should increase its capital by a further 13.85%. Its last traded price stood at Rs 494 as of yesterday (Chaitra 28, 2073). Likewise, today is also the last day to secure 50% right shares of First Microfinance Development Bank Limited (FMDBL). Only those shareholders holding shares one trading day ahead of the book closure date i.e. until today (Chaitra 29, 2073) are eligible to apply for the right shares. Its current paid up capital stands at Rs 26.45 crore. After issuance of 50% right share this year, its paid up capital will reach Rs 39.67 crore. As per its capital plan, FMDBL will provide 15% bonus share to its shareholders in the FY 2073/74. After this, its paid up capital will reach Rs 45.62 crore. It will again issue 50% right share next year, after which its paid up capital will reach Rs 68.44 crore. FMDBL has earned net profit of Rs 3.36 crore in the second quarter of the FY 2073/74. Its last traded price stood at Rs 1,452 as of yesterday (Chaitra 28, 2073).