Saptakoshi Development Bank to auction unsold 9.73 lakh units right shares at Rs 100 & above; around 35.5% shares unsubscribed

Saptakoshi Development Bank Limited (SKDBL) will be auctioning 9,73,677 unit unsold right shares. As per the notice published by the development bank today, it has allotted only 17,69,323 unit shares among 27,43,000 units. Around 35.5% of the total issue were unsubscribed. The development bank had issued 130% right shares to its shareholders from Ashad 30 to Bhadra 9, 2074. The development bank will publish another notice for auction of the shares. SKDBL’s current paid up capital remains at Rs 21.10 crore. After the issuance of 130% right, its paid-up capital will reach Rs 48.53 crore. It has an authorized capital of Rs 1 arba. Its promoter-public ratio stands at 60:40. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%. Its LTP stood at Rs 175 as of last trading day.