40% right of Prabhu bank gets SEBON's approval

Prabhu bank limited( PRVU)  has got approval from SEBON for issuing 40% right share. 

PRVU will issue 2.35 arba to its existing shareholder at face value of Rs 100 per share. sunrise Capital market  has been approved as a issuing manger. 

The existing paid-up capital is 5.88 arba. After issuing 40% right, paidup capital will reach to 8.24 arba.

The bank has earned net profit of Rs 25.07 crore in the first quarter of FY 2074/75.

The  share was last traded at Rs 351.