Mission Development Bank 50% right share offer to end today

Mission Development Bank Limited (MIDBL) is closing its 2:1 (50%) ratio right shares offer is set to end today (Kartik 24) after banking hours. Today is the last date for filing applications for the rights. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashwin 12 would be eligible to apply for the right shares. The development bank is issuing a total of 5, 75,000 unit right shares at the face value of Rs 100. Shareholders can collect applications for the right shares from any offices of Mission Development Bank and from the issue manager Vibor Capital Limited situated at Krishna Galli, Lalitpur. The paid up capital of 1-3 districts geographical area category stands Rs 11.50 crore. After the issuance of 50 percent right shares worth  Rs 5.75 crores  its paid up capital will increase to Rs 17.25 crores. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue amounting NPR 57.5 million of Mission Development Bank Limited (MDBL).