Saptakoshi Development Bank's 130% right share added in SEBON pipeline; paid up to reach Rs 48.53 crore

Saptakoshi Development Bank Limited (SKDBL) has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of 1:1.3 (130%) right shares. SKDBL is seeking approval to issue 2,743,000 units shares to be floated a face value of Rs 100 per share. NMB Capital Limited has been appointed as the issue manager. SKDBL has earned net profit of Rs 1.66 crore in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 21.10 crore. Saptakoshi Development Bank's AGM had endorsed 11% bonus share and 1:1.3 (130%) right share to its shareholders. After the issuance of 130 percent right share, its paid up capital will reach Rs 48.53 crore. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 arba by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%.