Prabhu Bank announces book close date for 40% Right share; book close on 21st Poush

The company's 104th BoD meeting held on 9th Poush has decided to close the shareholders book on 21st Poush, 2074. 

The eligible shareholders will be able to apply 40% right shares at a par value of Rs 100. The shareholders having the shares at the time of bookclose will be eligible to apply for the right shares. Prabhu bank will issue 2.35 crore units shares. 

Sunrise Capital has been appointed as the issue manager for the issue. 

Prabhu Bank currently has a paid-up capital of Rs 5.88 arba. The paid-up capital will hike to Rs 8.24 arba after the right issue. The company has a reserve of Rs 2.83 arba. The company has drastically reduced its NPL for 7.54% in the corresponding quarter to 4.23% in the 1st quarter 2074/75. Prabhu Bank had earned a net profit of Rs 25.07 crore as of 1st quarter 2074/75. 

Prabhu bank was last traded at Rs 335.