Narayani Development Bank (NABBC) calls AGM; Agenda to Endorse Issuance of Additional Right Shares

Narayani Development Bank Limited (NABBC) has called its 19th AGM on Magh 16. The meeting will be held in Star Banquet, Ratnanagar, Chitwan, starting at 1 pm that day.

Among other agendas, there is an agenda on the issuance of right shares in the ratio 1:2. Note that the 18th AGM of the company had already endorsed the issue of right shares in the ratio 1:1. This issue of right shares in the ratio 1:1 has been approved by SEBON on Poush 20 this year. Now, the paid-up capital of the company will increase to Rs. 13,12,33,800 from the previous Rs. 6,56,16,900.

The new 1:2 ratio right shares will then be issued on the newly formed paid-up capital of Rs. 13,12,33,800. This will then take the company's paid-up capital to Rs. 39,37,01,400.

Furthermore, pursuant to Nepal Rastra Bank's criterion for district-level Development Banks to have a minimum paid-up capital of Rs. 50 crores, the AGM will endorse the increment of the company's authorized, paid-up, and issued capital.

The book closure date is announced on Poush 29. Thus, investors maintained before that day are eligible to attend the company's 19th AGM. Note that this book closure is also for the 1:1 right shares issue already approved by SEBON. While writing this article, the LTP of the company stands at Rs. 523. 

AGM notice