The bank has current paid-up capital of Rs 28 million. As per its plan to upgrade to a national level development bank, the bank is collecting capital to maintain the required minimum paid-up capital of Rs 2.50 billion.
The bank has assigned three investment companies to distribute its promoter shares having a face value of Rs 100 to collect capital. However, the investment companies are apparently, collecting Rs 115-120 per share from investors.
An investor who refused to be named informed Merolagani.com that he bought 1,000 units of promoter shares of the bank at Rs 115 per unit. He deposited Rs 100,000 in the bank’s account and Rs 15,000 as a service charge in the investment company’s account.
As per him, the investment company demanded additional Rs 15,000 as service charges above the price of the promoter shares.
The bank is required to collect promoter capital of Rs 1.275 billion if it targets to issue 49 percent capital to the ordinary shareholders.
