Narayani Development Bank Limited (NABBC) is closing applications today (Kartik 9) for its 100% rights share issuance, which opened on Asoj 2. Shareholders still have until the end of the day to subscribe.

The bank is issuing rights shares in a 1:1 ratio, meaning every shareholder with 1 existing share is eligible to apply for 1 additional share. A total of 2,624,676 rights shares are being issued at a par value of NPR 100 each, amounting to NPR 262,467,600.

For this rights offering, the bank announced a book closure on Bhadra 9. Shareholders recorded in NEPSE up to Bhadra 8 are eligible to participate.

Credit rating agency ICRA Nepal has assigned the bank an issuer rating of ICRA NP Issuer Rating C+, indicating very high risk regarding the bank’s ability to meet financial obligations on time.

Global IME Capital Limited is serving as the issue and sales manager. Investors can apply through Global IME Capital, designated branches of Global IME Bank including Bhumi, Nawalparasi, and Narayani Development Bank’s central and branch offices in Yagyapuri, Tandi, Parsa, and Narayangadh. Applications can also be submitted through ASBA-approved banks and financial institutions and via the Mero Share online platform.

Currently, the bank’s paid-up capital stands at NPR 262,467,600. After the rights share allotment, the paid-up capital will increase to NPR 524,935,200.

The capital raised through this rights offering will be invested in securities, government bonds, and mutual funds, as well as utilized for infrastructure development and branch expansion.