40% right issue of Civil Bank commences; Application through ASBA acceptable

40% right issue of Civil bank has started from friday. The issue will close on january 11th, 2018 (Poush 27, 2074)

Eligible shareholders of Civil bank can apply from Laxmi Capital markets, Civil Capital Market, stated branches of Civil bank or even from all the country using ASBA . Only the shareholders holding the shares at the time of book close are eligible for the right.

Laxmi Capital is the issue manager for this issue. The company is issuing 2.07 crore units of shares at Rs 100. 

Civil Bank currently has a paid-up capital of Rs 5.18 arba. The paid-up capital will reach Rs 7.25 arba after the right issue. The bank will still need to raise its capital by approx. 10% after the right issue.  

Civil Bank, one among the youngest commercial bank, had earned Rs 11.33 crores net profit as of 1st quarter of this FY. The bank was last traded at Rs 196.