Tinau Development Bank’s 35% right share in SEBON pipeline

Tinau Development Bank Limited (TNBL) has been added in SEBON pipeline to seek approval for the issuance of 35% right shares. TNBL’s 10^th AGM conducted on Kartik 8, 2073 had endorsed the agenda to issue 35% right shares. TNBL is seeking to issue 11,94,796.09 units right shares at a face value of Rs 100 per unit. Siddhartha Capital Limited is the issue manager for the right. TNBL had endorsed 25% bonus share for the FY 2072/73. Its paid up capital after the issuance of bonus stands at Rs 34.12 crore. After the issuance of 35% right shares, its paid up capital will reach Rs 46.06 crore. As per NRB’s requirement 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, it will need to issue a further capital hike of around 8.55%.