Sahara Bikas Bank releasing 1:1.5 (3.54 lakh units) right shares from Ashwin 14;Paid up to reach Rs 5.90 crore

Sahara Bikas  Bank Limited (SHBL) will be issuing 1:1.5 (150%) right shares to its existing shareholders from Ashwin 14, 2073. As per the notice published by the development bank today, the right share will open from Ashwin 14, 2073.The closing date has been fixed on Kartik 18, 2073. Sahara Bikas Bak Limited will be issuing a total 3, 54, 000 unit right shares at the face value of Rs 100. The book closure date for 150% right issues has been set for Bhadra 22, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. Bhadra 21, 2073 are eligible for the right shares. Global IME Capital Limited has been assigned as the issue manager for the right issue. Shareholders can collect the application forms from Global IME Capital Limited, Rastriya Naachghar, Jamal , Kathmandu and from central and all branch offices of Sahara Bikas Bank Limited. SHBL had earned a net profit of Rs. 1.003 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. The paid up capital of the development bank stands at  2.36 crore. After the issuance of 150 percent, the paid up capital will reach Rs 5.90 crore. Its authorized capital remains at Rs 10 crore. Its last traded price stood (LTP) at Rs 1, 279 as on May 17, 2016.