Machhapuchchhre Bank to auction 1.60 lakh units unsubscribed right shares at Rs 100 & above

Machhapuchchhre Bank Limited (MBL) had floated 12% (79,18,440 unit) right shares to its shareholders from Shrawan 5, 2074 till Bhadra 7, 2074. The bank has published notice of allotment of right shares today. It has allotted only 77,57,697.36 unit right shares as per right share allotment notice and remaining 1,60,742.64 units (2.02%) was unclaimed by the shareholders. Now, the unclaimed 1.60 lakh units right shares will  be sold through auction. MBL’s paid up capital currently remains at Rs 6.59 arba. After this right share issuance, its paid up capital will reach Rs 7.39 arba. Its authorized capital is Rs 10 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, MBL has to issue a further capital hike of Rs 61 crore (around 8.25%). MBL has earned net profit of Rs 1.30 arba until the end of fourth quarter of FY 2073/74.