Mount Makalu 150% right share closing today; LTP at Rs 820

Existing shareholders have one more day left to file for 1:1.5 (150%) ratio right shares of Mount Makalu Development Bank Limited (MMDBL). The development bank has been issuing right shares from Bhadra 16, 2073 and today is the closing day for the same. The rights issue will close on Ashwin 19, 2073. Mount Makalu is issuing a total of 3, 90, 000 unit right shares at the face value of Rs 100. The book closure date for 150% right issues has been set for Shrawan 21, 2073. Only the shares registered one day ahead of the book closure date i.e. Shrawan 20 are eligible for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu and all branch offices of Mount Makalu Development Bank. After the adjustment of the rights shares, the bank total paid-up capital will reach to Rs 6.50 crore from existing Rs 2.60 crore. The bank has authorized capital of Rs 8 arore. Its public-promoter share structure stands at 70:30 ratio. Its last trade price (LTP) stood at Rs 820 as on October 3, 2016. Mount Makalu has earned net profit of Rs 39.87 lakhs in the fourth quarter of last fiscal year 2072/73.