Only 2 days left to apply for 40% right share of Nepal SBI Bank; issue closes Sunday

Nepal SBI Bank Limited (SBI) has been issuing 1.99 crore units right shares in the ratio 10:4 from Jestha 7, 2074 and coming Sunday (Asadh 11, 2074) is the last day to apply for the same. NMB Capital Limited has been assigned as the issue manager for SBI’s right share issue. The book closure date for the rights issue was on Baisakh 26, 2074. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. until Baisakh 25, 2074 are eligible to apply for the right shares. Shareholders can check their entitled right share eligibility at Nepal SBI Bank’s website and can download right share forms from NMB Capital. Applicants can visit NMB Capital, Naxal, Nepal SBI Merchant Banking Limited, Hattisar, Kathmandu or any branch of Nepal SBI Bank to submit their right share application forms. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.97 arba from the existing Rs 4.97 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 70:30 ratio. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SBI will need to issue a further capital hike of Rs 1.03 arba (15%).