Only 2 days left to apply 20% right share of Kailash Bikas Bank; offer closes tomorrow

Kailash Bikas Bank Limited (KBBL) has been issuing 5:1 (20%) right share to its existing shareholders from Falgun 6, 2073 and tomorrow (Chaitra 10, 2073) is the last day to apply for the same. Kailash Bikas Bank is issuing a total of 31,60,672 unit right shares at the face value of Rs 100. The book closure date for 20% right issue was set for Poush 13, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Poush 12, 2073 were eligible for the right shares. Global IME Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Global IME Capital Limited, Rastriya Naachghar, Jamal, Kathmandu and from Kailash Bikas Bank Limited and its branch offices. Kailash Bikash Bank had started joint transaction after merger with Metro Development Bank and Nepal Express Finance from Jestha 17, 2073. It has earned net profit of Rs. 26.38 crore in the second quarter of the current fiscal year. The paid up capital of the bank stands at Rs 1.58 arba. After the issuance of 20 percent right share, the paid up capital will reach Rs 1.89 arba. As per NRB’s directive for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, KBBL will need to increase its capital by a further 32%.