Kathmandu. Narayani Development Bank Limited has extended the deadline to apply for the right shares from September 18. Applications for 100% right shares of the bank can be submitted till October 22.
The bank is issuing 1 unit of right shares to its shareholders. The bank is issuing 26,24,676 units of right shares at a face value of Rs 100 per share.
The bank had closed the book on August 22 for the purpose of issuing right shares. Accordingly, the shareholders who have been traded in NEPSE till August 24 can apply for the right shares.
ICRA Nepal has assigned ICRA NP Issue Rating ‘C Plus’ to the bank. This indicates that there is a very high risk to the ability to bear financial obligations on time.
Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares from Global IME Bank at Bhumahi-Nawalparasi-branch of Global IME Development Bank.
Moreover, the interested bidders can apply for the shares online from the banks and financial institutions participating in the ASBA service with permission from the Securities Board of Nepal (SEBON) and online using the software ‘Mero Share’ developed by CDS & Clearing Limited.
Presently, the bank has a paid-up capital of Rs 26,24,67,600. After the issuance of right shares, the paid-up capital of the company will stand at Rs 52,49,35,200.
