Nilgiri Bikas Bank’s 4:1 rights issue closing on Baishakh 13

ShareSansar April 24:

Nilgiri Vikas Bank Limited (NGBL) rights issue that opened on Chaitra 9 is closing on Baisakh 13, 2072 (Sunday). Global IME Capital Limited is the issue manager for this rights issue.

The bank’s 8th AGM held on Mangsir 9, 2071 had decided to offer 4:1 right shares for its existing shareholders. The company has issued a total of 3,00,000 units of right shares to its existing shareholders.

Nilgiri Bikas Bank’s paid up capital will rise to Rs 15 crore after the issuance of rights shares from the current amount of Rs 12 crore.

Nilgiri Bikas Bank has reported a huge growth in profit for the third quarter of fiscal year 2071/2071. The bank’s profit surged by 72.22% in the third quarter to Rs 1.69 crore, up from 94.04 lakh posted in the corresponding quarter of the previous fiscal year 2070/71.