Reminder: Last day to clinch right shares of Siddhartha Bank, Machhapuchchhre Bank & Purnima Bikas Bank; Book closure on Jestha 16

Today is the last day to clinch 30% right shares of Siddhartha Bank, 12% right shares of Machapuchchhre Bank and 25% right shares of Purnima Bikas Bank. All three banks have announced book closure date for the right issue on Jestha 16, 2074. Only those shareholders holding shares one trading day ahead of the book closure date i.e. till today (Jestha 14, 2074) are eligible to apply for the right shares. SBL will be floating 15,752,578.13 units right shares worth Rs 15.75 crore, while MBL will be floating a total of 79,18,440 units right shares worth Rs 79.18 crore and PURBL will be floating 8,80,962.82 units right shares worth Rs 8.80 crore to its shareholders. After the issuance of 30% right shares, SBL’s paid up capital will reach Rs 6.82 arba. While after the issuance of 12% right shares, MBL’s paid up capital will reach Rs 7.39 arba. 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, SBL will need to issue a further capital hike of around 17.30%.whereas MBL will need to issue a further capital hike of around 8.30%. Likewise, PURBL’s paid up capital after the right issue will reach Rs 44.04 crore. It should increase its paid up capital to Rs 50 crore by the end of FY 2073/74, for which it will need to issue a further capital hike of Rs 5.96 crore (around 13.60%).