Narayani Development Bank Plans To Sell A 1:1 Right Share | Files A SEBON Application

HIDCL Right Share – Hydroelectricity Investment and Development Co. Ltd issuing 1:1 right share

Narayani Development Bank Limited (NABBC) is planning to sell right shares to its shareholders again after the previous issue of 1:1 right shares. On Ashad 4, 2078 BS, the company applied to the Securities Board of Nepal (SEBON) for the right to issue.

If SEBON approves, the company will sell right shares in a 1:1 ratio. The development bank has a paid-up capital of Rs 13.12 crores as of Chaitra end 2077 BS. As a result, the company will issue 1,312,338 shares in a right offering worth Rs 13.12 crores.

The issue manager for the public offering has been named as Global IME Capital Limited.

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The capital of Narayani Development Bank will increase to Rs 26.24 crores following the right issue (if fully subscribed).