Namaste Bittiya Sanstha has a paid up capital of Rs 9 crores whereas Western Development Bank’s paid up capital stands at Rs 32 crores. In a conversation with Merolagani, Mr. Bhupal Giri, CEO of NBSL, said that the paid up capital of the merged entity will reach to Rs. 50 crores.
Current paid up capital of these two companies add up to Rs 41 crores. However, the merged entity aims to distribute bonus shares to hike its capital to Rs 50 crores. Both NBSL and WDBL had increased their paid up capital by issuing 100% right share few months back.
The swap ratio for merger has not been disclosed yet.
LTP of NBSL and WDBL stood at Rs. 550 and Rs. 318 respectively.
Likewise, Namaste Bittiya Sanstha has called its Special General Meeting (SGM) on 15th Baisakh, 2074 to endorse the merger. The company has informed that the shareholder register will close on 28th Chaitra, 2073 for the purpose of upcoming SGM.