SEBON approves 40% right share of Guheshwori Merchant; Bhargav’s 80% & Nepal Community Dev Bank’s 120% right also given go-ahead

Securities Board of Nepal (SEBON) has provided approval to three Banks and Financial Institutions (BFIs) today i.e. on Bhadra 25, 2074. Guheshwori Merchant Banking and Finance Limited (GMFIL) was given go-ahead to issue 40% right share, Bhargav Bikas Bank Limited (BHBL) was approved to issue 80% right share and Nepal Community Development Bank Limited (NCDB) got approval to issue 120% right share. NIBL Capital Markets Limited will manage the right issue for GMFIL and NCDB while NMB Capital Limited is the issue manager for the right share of Bhargav Bikas Bank. GMFIL has earned net profit of Rs 12.92 crore in FY 2073/74. Its paid-up capital currently stands at Rs 49.34 crore. After the issuance of 40% right share, its paid up capital will reach Rs 69.08 crore. Likewise, BHBL will be issuing a total of 21,12,000 units right shares to its shareholders at Rs 100 per share. After the issuance of this 80% right share, its paid up capital will reach Rs 47.52 crore from current Rs 26.40 crore. NCDB, which opted for issuing 120% right share after cancellation of acquisition by Shangri-la Development Bank, will have hiked its paid-up capital to Rs 48.46 crore from existing Rs 22.29 crore.