Kamana Sewa apportions 15% right shares; Unsold 8.49 lakh units to be auctioned

Kamana Sewa Bikas Bank has apportioned 15% right shares to the shareholders on 4th Baisakh, 2075.

As per the report, the company has allotted 22,44,191 unit shares to 32,222 valid applicants. The company had issued right share of 30,94,154 units where almost 27.47% of shares remained unsold. The unsold shares will soon be auctioned among general public. The unsold 8.49 lakh unit includes both promoter and ordinary type shares. 

Kamana Sewa Bikas Bank had floated 15% right shares from Magh 15th to Falgun 20th. The shareholders having the shares at the time of bookclose were eligible for the right. 

The company's shareholder bookclosed on Magh 3rd. 

NMB Capital was managing the issue. 

ICRA Nepal had provided grade 4 rating indicating below average fundamentals for the upcoming issue. 

Kamana sewa is the bank formed after the merger of Kamana bikas bank and Sewa Bikas Bank. The Bank currently has a paid up capital of Rs 2.05 arba. The capital will hike to Rs 2.36 ara after the capitalization of right issue. The bank further needs Rs 14 crores to meet the capital requirement for national level development banks.