Kamana sewa to float 15% right shares from Magh 15th; Issue to end on Falgun 20

Kamana Sewa Bikas Bank has announced to float 15% right shares from Magh 15th. The issue will end on Falgun 20th. The shareholders having the shares at the time of bookclose are eligible for the right. 

The company's shareholder bookclosed on Magh 3rd. 

Kamana sewa is issuing 30.94 lakh units at a face value of Rs 100.   

NMB Capital is the issue manager for the issue. Eligible shareholders can apply for the right shares from NMB Capital (Nagpokhari), stated branches of NMB Bank and any bank having an ASBA membership.  

ICRA Nepal has 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 right issue. The bank further needs Rs 14 crores to meet the capital requirement for national level development banks. 

KSBBL was last traded for Rs 179 in the stock market.