Last day to secure 35% right share of Tinau Dev. Bank; Book Closure tomorrow

Today is the last day to clinch 35% (10:3.5) right share of Tinau Development Bank Limited (TNBL). The book closure date for the right issue has been set on Baisakh 6, 2074 (tomorrow). Only those shareholders holding shares that have been traded one trading day ahead of the book closure date i.e. until today are eligible to apply for the right shares. Tinau Development Bank is going to issue 11.94 lakh units right shares to its shareholders from Baisakh 19, 2074. TNBL had endorsed 25% bonus share for the FY 2072/73. Its paid up capital after the issuance of bonus stands at Rs 34.13 crore. After the issuance of 35% right shares, its paid up capital will reach Rs 46.08 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, it will need to issue a further capital hike of around 8.50%. Its last closing price stood at Rs 505 as on April 16, 2017.