Sahayogi Vikas Bank’s 35% right share and Hamro Bikas Bank’s 200% right share in SEBON pipeline

Sahayogi Vikas Bank Limited (SBBLJ) has been added in SEBON pipeline to seek approval for the issuance of 35% right shares. NCM Merchant Banking Limited has been assigned as the issue manager for the right. SBBLJ is seeking to issue 11,01,135 units right shares to be floated at a par value of Rs 100 per unit to its existing shareholders. Sahayogi Vikas Bank has earned net profit of Rs 5.65 crore in the second quarter of the FY 2073/74. Its paid up capital currently stands at Rs 31.46 crore. After the issuance of 35% right, its paid up capital will reach Rs 42.47 crore. As per NRB’s directive for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, SBBLJ will need to issue a further capital hike of 17.8%. Similarly, Hamro Bikas Bank Limited (HAMRO) has also been added in SEBON pipeline today. It is seeking approval to issue 200% right shares to its existing shareholders. NIBL Capital Markets Ltd. HAMRO will be issuing 30,58,338.75 units right shares worth Rs 30.58 crore to be floated at a par value of Rs 100 per unit. Hamro Bikas Bank has earned net profit of Rs 2.15 crore in the second quarter of the FY 2073/74. It has a paid up capital of Rs 15.29 crore. After the issuance of the right shares in the ratio 1:2, its paid up capital will reach Rs 45.88 crore. As per NRB’s directive for all 1 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, HAMRO will need to increase its capital by a further 9% only.