Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering

The Securities Board of Nepal (SEBON) has granted approval to Narayani Development Bank Limited’s (NABBC) rights offering proposal on Poush 19, 2080. The bank is set to issue 100% right shares with a total value of Rs. 26.24 Crores, distributing 26,24,676 units (1:1) of right shares among its existing shareholders. Currently holding a paid-up capital of Rs. 26.24 crore, the company’s capital will witness an increment to Rs. 52.4 Crores after the adjustment for the proposed right shares. The responsibility of managing the issue has been entrusted to Global IME Capital Limited, with the application initially submitted to the board on Bhadra 9, 2079. As of the latest update, NABBC’s closing stock price stands at Rs. 396.10.