Sahara Bikas AGM today; proposes 18% bonus shares; 250% right shares

ShareSansar, March 23:

Sahara Bikas Bank Limited (SBBL) is holding its 4th Annual General Meeting on Chaitra 9 (today). The AGM is set to endorse 18 percent bonus shares for its shareholders and set aside combined cash dividend of Rs 1,89,474 for tax purpose.

After distributing the bonus shares, the paid up capital of the bank will reach Rs 2.36 crore. Sahara is also endorsing 1:2.50 right shares to its shareholders to increase its capital to Rs 5 crore.

Two board members representing the public shareholders will also be elected during the AGM. There are only 60,000 ordinary shares of Sahara Bikas in the market and small groups of people who hold those shares are expected to have a sway over who gets elected to the board.

The AGM will be held at the Shrimati Krishna Devi Higher Secondary School, Malangawa Sarlahi at 11 am. The other agendas of the meeting are financial highlight 2070/71 and appointment of auditor.
Sahara Development Bank Limited had reported a rise in net profit by 88.19 percent for the second quarter of the fiscal year 2071/72.