Narayani Development Bank has started issuing rights shares from today, Ashoj 2.
The bank is offering 26,24,676 units of rights shares at a face value of Rs.100 each. This makes the total issue worth about Rs.70 crore. The issue is in the ratio of 1:1, meaning shareholders will get the chance to buy the same number of shares they already hold.
For this purpose, the bank had announced a book closure on Bhadra 9. So, only those who held shares until Bhadra 8 are eligible to apply for the rights shares.
The deadline to apply is Ashoj 22.
Where can you apply?
Applications can be made through:
- Global IME Capital (issue manager)
- Global IME’s Bhumari branch in Nawalparasi
- Narayani Development Bank’s central office and its Yagyapuri, Tandi, Chitwan Parsa, and Narayangadh branches
- Any bank or financial institution offering C-ASBA services
- The online portal Mero Share
ICRA Nepal has given the bank a rating of ICRA NP Issuer Rating C+. This rating shows that the bank has a higher risk in meeting its financial obligations on time.
The rights issue was approved by the Nepal Securities Board on Shrawan 15, 2082, following a decision made during the bank’s special general meeting on Ashar 8, 2079.
