Last day to secure 80% right share of Shangri-La Development Bank; Book Closure tomorrow

Shangri-La Development Bank (SADBL) is closing its book tomorrow for the proposed 80% right shares. The investors whose shares are registered one day before the book closing date i.e. until today are eligible to grab the offered right shares. The development bank is going to issue 1:0.8 (80%) right share worth Rs 1.08arba to its existing shareholders at par value of Rs 100. The issue manager for the right issue is Prabhu Capital Limited. The development bank 12th AGM held on Jestha 19, 2074 had endorsed 1:0.8 right shares to their shareholders. After 80% right issue, its paid up capital will reach Rs 2.44 arba from existing capital of Rs 1.36 arba. As per NRB’s monetary policy, SADBL should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. After the issuance of these right shares, the bank should issue a further Rs 6 crore capital to meet the NRB directive. It had earned Rs 34.37 crore in the fourth quarter of the FY 2073/74.