Sahara Bikas Bank extends date for applying for right shares till Ashadh 24; Paid-up capital to reach Rs 25.55 crore after 1:2.5 right issue

Sahara Bikas Bank Limited (SHBL) has published a notice regarding the extension of date for applying the right shares till Ashadh 24, 2075.

The development bank had issued 250% right shares to its shareholders from Jestha 6. The previous closing date for the issue was on Ashadh 10, 2075. However, the shareholders can now apply for the right shares till Ashadh 24, 2075.

The bank is issuing 18,24,870 unit right shares to the shareholders holding shares till Baisakh 9, 2075.

NIBL Ace Capital has been appointed as the issue manager for the right issuance.

After the adjustment of 250% right shares, its paid-up capital will reach Rs 25.55 crore. It has reported net profit of Rs 87.55 lakh in the third quarter of the current fiscal year. The company is currently in the process of acquisition by Deva Bikas Bank Limited (DBBL).

SHBL is in the process of being acquired by Deva Bikas Bank Limited (DBBL).