NIBL Capital Markets Limited and Deva Bikas Bank has signed an Issue Management Agreement. As per the agreement, NIBL Capital Markets will be Issue Manger of Deva Bikas Bank for issuing rights share with the ratio of 10:4 i.e. for every 10 shares, shareholders are eligible for 4 rights.
The agreement was signed by Mr. Bijay Bahadur Shrestha, CEO of Deva Bikas Bank and Mr. Mekh Bahadur Thapa, General Manager of NIBL Capital. Deva Bikas Bank shall be issuing 6.53 million right shares at the rate of NPR 100 per share.
After the issuance of right shares, the paid up capital of Deva Bikas Bank shall increase from the current amount of NPR 1.63 billion to the total paid up capital of NPR 2.28 billion. Deva Bikas Bank is national level development bank and the minimum capital requirement is NPR 2.5 billion. The development bank is in process of acquisition of 2 small cap development bank and a finance company which are Sajha Bikas Bank, Sahara Bikas Bank and Union Finance.
At the end of the fourth quarter of F.Y. 2073/74, the bank had total deposits amounting to NPR 10.41 billion while its total loan was NPR 9.57 billion. Additionally, the bank had earned a net profit of NPR 289 million during the same quarter.