Last day to clinch 80% right of Bhargav Bikas Bank & 20% bonus shares of Siddhartha Insurance

Today is the last day to secure 80% right shares of Bhargav Bikas Bank Limited (BHBL). The book closure date has been set on Kartik 15, 2074. Thus, only those shareholders owning shares till Kartik 14, 2074, i.e. one day ahead of the book closure date are eligible for the right shares. NMB Capital Limited has been assigned as the issue manager for the right issue. Likewise, BHBL will be issuing a total of 21,12,000 units right shares to its shareholders at Rs 100 per share from Kartik 24 to Mangsir 28, 2074. After the issuance of this 80% right share, its paid up capital will reach Rs 47.52 crore from current Rs 26.40 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, BHBL will need to issue a further capital hike of Rs 2.48 crore (around 5.25%). Its LTP stood at Rs 275 as of last trading day. Today is also the last day to secure 20% bonus shares and 1.053% cash dividend (for tax purpose) of Siddhartha Insurance Limited (SIL). The book closure date for the AGM has been set from Kartik 15 to Kartik 29, 2074. But only those shareholders holding their shares till today (Kartik 14, 2074) are eligible to participate in the AGM and proposed dividend. It will be convening its 16^thAnnual General Meeting (AGM) on Kartik 29, 2074. The AGM is going to be held at Nepal Tourism Board, Kathmandu at 11:00 AM. Siddhartha Insurance had earned Rs 22.13 crore in the fourth quarter of the fiscal year 2073/74. SIL has proposed the said bonus on its current paid up capital of Rs 53.45 crore including its recently floated 19.23% right share. After issuance of 20% bonus share, its paid up capital will reach Rs 64.15 crore and after issuance of further 35% right share its capital will reach 86.60 crore. As per the new guideline, non-life insurance companies should have a minimum paid up capital of Rs 1 arba by the end of FY 2074/75 and SIL will meet the requirement after issuance of bonus and right share. Its LTP stood at Rs 1,460 as of last trading day.