Last day to secure 214% right share of Kankai Bikas Bank; LTP at Rs 222

Kankai Bikas Bank Limited (KNBL) is closing its 32,10,000 units right shares in the ratio 1:2.14 to its existing shareholders today (Bhadra 11, 2074). The rights issue was open for 35 days from Shrawan 9, 2074. The book closure date for the rights issue was set for Asadh 19, 2074. Only those shareholders having shares till Asadh 18, 2074 are eligible to apply for the right shares. Siddhartha Capital Limited is the assigned issue manager. Applicants can collect right share application forms from Siddhartha Capital, Naxal, Kathmandu and from all branches of Kankai Bikas Bank and Siddhartha Bank. KNBL’s current paid up capital stands at Rs 15 crore, and after the issuance of this right share, its paid up capital will reach Rs 47.10 crore. Its authorized capital is Rs 75 crore. Kankai Bikas Bank has earned net profit of Rs 3.87 crore till the end of the fourth quarter of the FY 2073/74. As a 1-3 district level development bank, KNBL should increase its paid-up capital to a minimum of Rs 50 crore by the end of FY 2073/74. Its LTP stood at Rs 222 as of August 24, 2017.