Sahara Bikas Bank’s 250% right share issuance starts from today; Paid up capital to reach Rs 25.55 crore

Today is the opening day for the issuance of 250% right shares of Sahara Bikas Bank Limited. The issue will be closed on Ashad 9, 2075.

The bank will be issuing 18,24,870 unit right shares at a par value of Rs 100.

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

The interested applicants can collect the application forms from NIBL Ace Capital, any designated branches of Sahara Bikas Bank Limited or any banks and financial institutions providing C-ASBA facility.

Currently, the paid-up capital of the bank stands at Rs 7.30 crore. After the issuance of the right shares, the paid-up capital of the bank will stand at Rs 25.55 crore. The bank’s paid up capital will still be short by 24.45 crore from the requirement set by Nepal Rastra Bank. The bank is being acquired by Deva Bikas Bank Limited (DBBL).

Its LTP stands at Rs 460 as of last trading day (i.e. Jestha 3 2075).