The bank is issuing 100 percent right shares from January 26. It is issuing 656,169 units of right shares worth Rs 65.6 million to its existing shareholders at a ratio of 1:1.
The bank has appointed Global IME Capital as its issue manager. The interested existing shareholders can apply for the right shares from the office of issue manager at Jamal, all branches of Narayani Development Bank, all C-ASBA approved BFIs and through meroshare.
ICRA Nepal has assigned C1 rating to the issue indicating high risk of default regarding timely servicing of financial obligations.
Currently, the company has a paid-up capital of Rs 65.6 million that will reach Rs 131.2 million after the right issue.
