NIDC Development Bank to merge with Rastriya Banijya Bank; Shareholders willing to offload their shares will receive Rs 4,484.30 per kitta

NIDC Development Bank has published a notice regarding the merger with Rastriya Banijya Bank on Falgun 3, 2074. As per the notice, the swap ratio for the acquisition has been maintained at 1:1 i.e. the shareholders of NIDC development bank will receive 1 share of Rastriya Banijya Bank in exchange of 1 share of NIDC Development Bank. Similarly, in case the shareholders donot want the shares of Rastriya Banijya bank, they will be receiving Rs 4,484.30 for 1 unit share of NIDC bank. NIDC Development Bank Limited has earned Rs 7.78 crore till the second quarter of the FY 2074/75. Its paid up capital stands at Rs 41.58 crore. Cabinet meeting of the ministers held on Magh 14, 2073 had signed a strategic agreement to merge both the government-owned banks. Notice